PLEASE HELP clear up my confusion! Carrie took out a $12,000 personal loan to pay off her credit cards. She will not make a payment for 2 years and there is a 5% interest rate. How much will be owed in 2 years with monthly compounding? I know this is relatively simple but the variable that she doesn't pay for 2 years is confusing me on how to set up the problem.

$12,100.21

Step-by-step explanation:

the fact that she doesn't pay means that the amount won't change. use the compound interest formula a = p(1+(r/n))^(nt) for principal (original amount) p, frequency compounded (how often the money is compounded) n, interest rate r, and time t.

p=12000, r=0.05, n=12, t=2. a=12000(1+(0.05/12))^(12*2). a=12100.21

  $13,158.10

Step-by-step explanation:

The account balance with compound interest is ...

  A = P(1 +r/n)^(nt)

  A = $12,000(1 +0.05/12)^(12·2) ≈ $13,158.10 . . . . will be owed in 2 years

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It's a straight compound interest problem. "No payments for 2 years" means the account continues to accrue compounded interest. It's basically a future-value problem, as opposed to an amortization or annuity problem where payments are involved.

answer

false

explanation

these practices describe the manner the land use outcome is attained. land management methods implemented by corporations are a mandatory because they are a driver for better land use results economically, socially and environmentally. corporations are required to understand the connection between land use , and land management practices to support sustainable land use policies

so then what are you asking?

step-by-step explanation: