He actually borrowed P=21349-3000=18349 (present value)
Assume the monthly interest is i.
then future value due to loan:
F1=P(1+i)^n=18349(1+i)^(5*12)=18349(1+i)^60
future value from monthly payment of A=352
F2=A((1+i)^n-1)/i=352((1+i)^60-1)/i
Since F1=F2 for the same loan, we have
18349(1+i)^60=352((1+i)^60-1)/i
Simplify notation by defining R=1+i, then
18349(R^60)-352(R^60-1)/(R-1)=0
Simplify further by multiplication by (R-1)
f(R)=18349*R^60*(R-1)-352(R^60-1)=0
Solve for R by trial and error, or by iteration to get R=1.004732
The APR is therefore
12*(1.004732-1)=0.056784, or 5.678% approx.
As soon as I see the word "Which ...", I know that there's a list of choices that
goes along with this question, but you decided not to share them. So there's
no way for me to help you choose the correct one.
In order to form a proportion with 3/4, you need another fraction (or ratio) that's
equal to 3/4 . Look for a fraction whose numerator is 3/4 of its denominator.
Here are a few examples:
-- 6 / 8
-- 24 / 32
-- 300 / 400
-- 12 million / 16 million
-- 3x / 4x
-- 15abc / 20abc
-- 3(x+y+z) / 4(x+y+z)
Answer: $22.50
Step-by-step explanation:
25% of 30 = 7.5
30 - 7.5 = 22.50
The answer is a because 4+3 =7 half plus quarter equals three quarters 11 -7 and three quarters equals A
