The balance on a car loan after 4 years is $8,996.32. the interest rate is 5.6% compounding annually. what was the initial value of the loan?

To evaluate the initial value we use the formula: A=P(1+r)^n where A=future value P=principle amount r=rate n=time thus plugging in our values we get: 8996.32=P(1+5.6/100)^4 solving for p we shall have: 8996.32=1.2435P hence: P=$7234.5 Thus the initial amount was $7234.5

Step-by-step explanation:

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step-by-step explanation:

m

1

=

5

m1=5

b

=

−

1

b=-1

find the slope and y-intercept of the second equation.

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m

2

=

0

m2=0

b

=

−

6

b=-6

compare the slopes

m

m of the two equations.

m

1

=

5

,

m

2

=

0

m1=5,m2=0

compare the two slopes in the decimal form. if the slopes are equal, then the lines are parallel. if the slopes are not equal, then the lines are not parallel.

m

1

=

5

,

m

2

=

0

m1=5,m2=0

step-by-step explanation:

at each of the parallel lines adjacent angles are supplementary. the angles have special names identifying their positions with respect to the parallel lines and transversal. they are corresponding angles, alternate interior angles, or alternate exterior angles. an angles is congruent to its matched angle.