Present value of annuity PV = P(1 - (1 + r/t)^-nt) / (r/t)
where: p is the monthly payment, r is the APR = 14.12% = 0.1412, t is the number of payments in one year = 12, n is the number of years = 2.
1,120.87 = P(1 - (1 + 0.1412/12)^(-2 x 12)) / (0.1412 / 12)
0.1412(1120.87) = 12P(1 - (1 + 0.1412/12)^-24)
P = 0.1412(1120.87) / 12(1 - (1 + 0.1412/12)^-24) = $53.88
Minimum monthly payment = 3.15% of 1120.87(1 + 0.1412/12) = 0.0315 x 1120.87(1 + 0.1412/12) = $35.72
Therefore, his first payment will be greater than the minimum payment by 53.88 - 35.72 = $18.16
Answer:
(a) 0.4
(b) a = 3
Step-by-step explanation:
(a) The area under the curve from x=4 to x=6 is 0.2 units high and 2 units wide, so is 0.2·2 = 0.4. (The area of a rectangle is the product of length and width.)
(b) The area is 0.2 and the height of the curve is 0.2, so the width of the region of concern is 0.2/0.2 = 1. (Again, area = height·width, or width = area/height.) 1 unit from the left end is found at X=3, so a = 3.
You need to know the base to answer this. but if you want i will explain it divide 62.4 by 2 which is 31.2
the you divide 31.2 by what ever the base is and that is your height
The blank answers are 340 and 0.34
