Question

Uma pessoa realizou uma compra que foi financiada em três parcelas mensais e iguais a R$ 350,00, o financiamento foi realizado sob a taxa de juros compostos de 48% a.a. Determine o valor da compra.

Answer 1

Answer: Amount of purchase would be $393.70.

Explanation:

One person made a purchase that was financed in three monthly installments and equal to $ 350.00, the financing was made at the compound interest rate of 48% a.a. Determine the amount of the purchase.

Since we have given that

Principal = $350.00

Rate of compounded monthly = 48%

Number of months = 3

So, the amount of purchase would be

`Amount=350(1+(0.48)/(12))^3\\\\Amount=350(1+0.04)^3\\\\Amount=350(1.04)^3\\\\Amount=\$393.70`

Hence, Amount of purchase would be $393.70.