Question and answer
Provide an example of how you can use the power of compounding interest to pay for a future expense.
Interest is the cost associated with borrowing or lending money. It can be considered a fee on borrowed assets. [ When lending money, banks apply an interest rate to the loan so that the amount repaid is greater than what was originally lent, creating a profit. A loan will have an annual percentage rate (APR) to explain the interest cost of this loan in one year. Generally, it is the interest
rate of a loan that determines the total cost to the consumer. A high interest rate loan will cost more to repay than a low interest rate loan, all things being equal. Therefore it behooves borrowers to search for a loan with a low rate in order to reduce the costs of repayment. Here is an example to compare. ]
Expert answered|selymi|Points 10056|
Question
Asked 2/7/2013 8:45:11 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
20,202,480 questions answered
Popular Conversations
Solve the inequality 9(x - 3) 13/5 x 67/5
Weegy: 9(x - 3) User: Solve the inequality 8(x + 1) > 7(x + 2). x -22 x 6 Weegy: 8(x + 1) > 7(x + 2) 8x + 8 > 7x ...
3/31/2015 6:43:39 AM| 4 Answers
Solve. –5(1 – 5x) + 5(–8x – 2) = –4x – 8x
Weegy: –5(1 – 5x) + 5(–8x – 2) = –4x – 8x; -5 + 25x - 40x - 10 = -12x; -5 - 15x - 10 = -12x; -15 - 15x = -12x; ...
3/31/2015 8:56:36 AM| 3 Answers
Which is a part of the female part of the ...
Weegy: b
3/31/2015 9:03:40 AM| 3 Answers
Evaluate the expression for x = -3. x^2 - 2x + 4
Weegy: The answer is x=5. User: Solve for c. ab - c = 9 Weegy: -2(2x + 5) - 3 = -3(x - 1) -4x - 10 - 3 = -3x + 3; ...
3/31/2015 10:35:54 AM| 3 Answers
Marie Camargo was a French ballerina.
3/31/2015 5:42:44 AM| 2 Answers
President Nixon opened informal relations with China and initiated ...
Weegy: Asked Did congress know about nixons plan to bomb cambodia in 1969 and said it was the same as Who knew about ...
3/31/2015 6:11:09 AM| 2 Answers
y 4 · y 6 User: Simplify. 1.5m 7(-4m 5)2
Weegy: The simplified expression of 1.5m^7(-4m^5)^2 = 24 m^17. User: Simplify. (-4a 3)3·a 4 Weegy: (-4a^3)^3 * ...
3/31/2015 6:52:19 AM| 2 Answers
What is the length of the hypotenuse of a right triangle whose legs ...
Weegy: The length of the hypotenuse of a right triangle whose legs have lengths of 5 and 12 is 13. User: What is the ...
3/31/2015 7:00:49 AM| 2 Answers
Weegy Stuff
S
L
P
L
P
P
P
Points 15 [Total 9175]| Ratings 0| Comments 15| Invitations 0|Offline
S
L
Points 6 [Total 3609]| Ratings 0| Comments 6| Invitations 0|Online
S
P
C
L
P
L
1
P
Points 2 [Total 7879]| Ratings 0| Comments 2| Invitations 0|Offline
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
S
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
S
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
S
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
S
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
S
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.