a. The number n of monthly payments of P dollars each required to pay off a loan of A dollars in its entirety at interest rate r is given by n = − log 1 − A r 12 P log 1 + r 12 b. college student wants to buy a car and realizes that he can only afford payments of $ 200 per month. If he borrows $ 3000 and pays it off at 6 % interest, how many months will it take him to retire the loan? Round to the nearest month. c. Determine the number of monthly payments of $ 611.09 that would be required to pay off a home loan of $ 128 , 000 at 4 % interest.
a. The number n of monthly payments of P dollars each required to pay off a loan of A dollars in its entirety at interest rate r is given by n = − log 1 − A r 12 P log 1 + r 12 b. college student wants to buy a car and realizes that he can only afford payments of $ 200 per month. If he borrows $ 3000 and pays it off at 6 % interest, how many months will it take him to retire the loan? Round to the nearest month. c. Determine the number of monthly payments of $ 611.09 that would be required to pay off a home loan of $ 128 , 000 at 4 % interest.
Solution Summary: The author uses the expression n=-mathrmlogleft to calculate the time taken by a student to clear his loan.
a. The number
n
of monthly payments of
P
dollars each required to pay off a loan of
A
dollars in its entirety at interest rate
r
is given by
n
=
−
log
1
−
A
r
12
P
log
1
+
r
12
b. college student wants to buy a car and realizes that he can only afford payments of
$
200
per month. If he borrows
$
3000
and pays it off at
6
%
interest, how many months will it take him to retire the loan? Round to the nearest month.
c. Determine the number of monthly payments of
$
611.09
that would be required to pay off a home loan of
$
128
,
000
at
4
%
interest.
1. Compute
Lo
F⚫dr, where
and C is defined by
F(x, y) = (x² + y)i + (y − x)j
r(t) = (12t)i + (1 − 4t + 4t²)j
from the point (1, 1) to the origin.
2. Consider the vector force: F(x, y, z) = 2xye²i + (x²e² + y)j + (x²ye² — z)k.
(A) [80%] Show that F satisfies the conditions for a conservative vector field, and find a potential
function (x, y, z) for F. Remark: To find o, you must use the method explained in the
lecture.
(B) [20%] Use the Fundamental Theorem for Line Integrals to compute the work done by F on
an object moves along any path from (0,1,2) to (2, 1, -8).
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