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  3. 1.a student takes out a college loan of $5000 at a

1.A student takes out a college loan of $5000 at an annual percentage rate of 3%,...

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Basic Math

1.A student takes out a college loan of $5000 at an annualpercentage rate of 3%, compounded monthly.
a. If the student makes payments of $1000 per month, how much,to the nearest dollar, does the student owe after 4 months? Don'tround until the end.



b. After how many months will the loan be paid off?
2. Suppose you start with one liter of vinegar and repeatedlyremove 0.08 L, replace with water, mix, and repeat.

a. Find a formula for the concentration after
n steps.


b. After how many steps does the mixture contain less than 5%vinegar?


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