In an installment loan, a lender loans a borrower a principal amount P, on which the borrower will pay a yearly interest rate of i (as a fraction, e.g. a rate of 6% would correspond to i=0.06) for n years. The borrower pays a fixed amount M to the lender q times per year. At the end of the n years, the last payment by the borrower pays off the loan.
After k payments, the amount A still owed is
<span>A = P(1+[i/q])k - Mq([1+(i/q)]k-1)/i,
= (P-Mq/i)(1+[i/q])k + Mq/i.
</span>The amount of the fixed payment is determined by<span>M = Pi/[q(1-[1+(i/q)]-nq)].
</span>The amount of principal that can be paid off in n years is<span>P = M(1-[1+(i/q)]-nq)q/i.
</span>The number of years needed to pay off the loan isn = -log(1-[Pi/(Mq)])/(q log[1+(i/q)]).
The total amount paid by the borrower is Mnq, and the total amount of interest paid is<span>I = Mnq - P.</span>
Answer: c I believe
Step-by-step explanation:
Answer:
8.1
Step-by-step explanation:
Area of a triangle = ½ × base × height = Area
Rearranged =
area/1/2xheight
The base is the length.
8.91/1/2x2.2
=8.1 inches
The correct answer is .05
To solve, find the decimal of each of the probabilities:
Flipping Tails: 1/2 ----> .5
Picking 3: 1/10-----> .10
Now, multiply them together:
.5 x .10 = .05
Hope this helps!
Answer:
x=82
Step-by-step explanation: