Answer:To solve a logarithmic equation, rewrite the equation in exponential form and solve for the variable. (it’s kind of the similar to regular equation)
Step-by-step explanation:
This question can be approached using the present value of annuity formula. The present value of annuity is given by

, where: PV is the present value/amount of the loan, P is the periodic (monthly in this case) payment, r is the APR, t is the number of payments in one year and n is the number of years.
Given that the<span> financing is for a new road bike of $2,500 and that the bike shop offers a 13.5% APR for a 24 month loan.
Thus, PV = $2,500; r = 13.5% = 0.135; t = 12 payments (since payment is made monthly); n = 2 years (i.e. 24 months)
Thus,
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<span>
Therefore, his monthly payment is $119.44</span>
Answer:
15
Step-by-step explanation:
Okay, so we know that Base*Length=Area, so we just have to divide the area by the base, so the formula here is Area/Base=Length.
That would get us 120/8=Length,
and if we just divide 120 by 8 we get 15, so the length is 15
Answer:
n= 13.8 years
Step-by-step explanation:
<u>First, we need to determine the daily interest rate:</u>
Daily interest rate= 0.03 / 365
Daily interest rate= 0.000082
<u>Now, using the following formula we can determine the number of days and years:</u>
n= ln(FV/PV) / ln(1+i)
n= ln(13,000 / 8,600) / ln(1.000082)
n= 5,039 days
<u>In years:</u>
n= 5,039/365
n= 13.8 years