Abank offers a loan for $10,000 which earns 4.25% interest compounded annually. what is the correct formula to determine how much someone would owe the bank if they took out this $10,000 loan for 5 years?

a = 10,000(1 + 5)^4.25

a = 10,000(1 + 0.0425)^5

a = 10,000(1 - 0.0425)^5

a = 10,000(0.0425)(5)

A = 10,000(1 + 0.0425)^5

Step-by-step explanation:

The formula for calculating annually compounded interest is:

Where A is the final loan amount; N is the initial amount loaned, in dollars; r is the annual interest rate and t is the length of the loan, in years.

In this loan, the initial amount is 10,000, the interest rate is 0.0425 and the length of the loan is 5 years. Therefore, the expression that describes the loan is:

let's solve your equation step-by-step.

24−3x=−27

step 1: simplify both sides of the equation.

24−3x=−27

24+−3x=−27

−3x+24=−27

step 2: subtract 24 from both sides.

−3x+24−24=−27−24

−3x=−51

step 3: divide both sides by -3.

−3x

−3

=

−51

−3

x=17

answer:

x=17

step-by-step explanation:

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