Amount of Interest (I) = P * R * T /100
I = 1675 * 4.6 * 4 /100
I = 308.20
Balance = Initial amount + Interest amount
B = 1675 + 308.20 = 1983.20
In short, Your Answer would be $1983.20
Hope this helps!
Answer:
$1250
Step-by-step explanation:
The loan can be made for up to ...
0.80 × $72,250 = $57,800
For a selling price of $73,500, the amount not funded by the loan will be ...
$73,500 -57,800 = $15,700
This is more than the buyer has saved by ...
$15,700 -14,450 = $1,250
The buyer will need $1250 in additional funds.
