Answer:
-12 + 3 - (10x - 15x + 96)
Step-by-step explanation:
Given Information:
Monthly payment = MP = $1500/4 = $375
Monthly interest rate = r = 25/12 = 2.083%
Required Information:
Present Value = ?
Answer:
![PV = \$10,110](https://tex.z-dn.net/?f=PV%20%3D%20%5C%2410%2C110)
Explanation:
n = 10*4
n = 40 monthly payments
The present value is found by
![$ PV = MP \times \frac{ (1 - \frac{1}{(1+r)^n} )}{r} $](https://tex.z-dn.net/?f=%24%20PV%20%3D%20MP%20%5Ctimes%20%20%5Cfrac%7B%20%281%20-%20%5Cfrac%7B1%7D%7B%281%2Br%29%5En%7D%20%29%7D%7Br%7D%20%20%24)
Where r is monthly interest rate.
MP is the monthly payment.
![$ PV = 375 \times \frac{ (1 - \frac{1}{(1+0.02083)^{40}} )}{0.02083} $](https://tex.z-dn.net/?f=%24%20PV%20%3D%20375%20%5Ctimes%20%20%5Cfrac%7B%20%281%20-%20%5Cfrac%7B1%7D%7B%281%2B0.02083%29%5E%7B40%7D%7D%20%29%7D%7B0.02083%7D%20%20%24)
![PV = 375 \times (26.96)](https://tex.z-dn.net/?f=PV%20%3D%20375%20%5Ctimes%20%2826.96%29)
![PV = \$10,110](https://tex.z-dn.net/?f=PV%20%3D%20%5C%2410%2C110)
Therefore, $10,110 is the present value of 10 quarterly payments of $1500 each at 25% interest rate compounded each month.
I think it is negative 1 I’m not sure tho
In this problem, you add 21 and 29. That results in 50 and you can either:
1. Divide 29 by 50 and multiply 100. 29/50= .58 * 100= 58% or
2. Since percentage is based on 100 and the denominator is 50, multiply the top and bottom by 2 like so.
29 x 2 = 58
--- -- ----- so that makes your percentage 58.
50 x 2 = 100
Hope this is clear enough.
Answer:
I guess (c) is your answer. thanks!!