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RSB [31]
3 years ago
5

What is the monthly payment for a $20,230 loan at 11.5 percent for 20 years?

Mathematics
1 answer:
yKpoI14uk [10]3 years ago
4 0
The main formula is 
M= P (i(1+i)^n) / <span>(1+i)^n) - 1
M: monthly payment
P: mortgage principale= </span><span> $20,230
i=montly interest, 11.5%=11.5/100=0.115, i= 0.115/12=0.009
n=number of months=12x20(years)=240 months

M= </span>$20,230(0.009(1.009)^240) / (1.009)^240-1=<span>$20,230 x 0.0077 / 8.58-1
M=$20.57

</span>
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In March, Derrick had $25.50 in credit card debt.
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Answer:

-20.50?

Step-by-step explanation:

I think you said he added 5 dollars in his account which would get some of his debt removed. But he would still have a remaining -20.50 dollars to get rid of.

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2 years ago
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Three more than 8 times a number is 29. Find the number.
yanalaym [24]
Well, first off, to solve for this, we can write the expression and then solve from there.
Expression: 8x + 3 = 29
So, now that we have our expression, we can solve for our missing number using the balancing method.
8x + 3 = 29
8x + 3 - 3 = 29 - 3 (we subtracted the three because we needed to get rid of the three on the left side of the equation do now we are just left with 8x = 26.
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8 0
3 years ago
If your teacher tells you to do questions 38 through 51 in your math book for homework, how many questions is that?
Elina [12.6K]

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8 0
3 years ago
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At an opening of a new art gallery the owner hired a caterer to serve light snacks. The owner created a budget for 150 people to
Vsevolod [243]

Answer: $357 is more amount budgeted for food increase.

Explanation:

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Hence, $357 is more amount budgeted for food increase.

8 0
3 years ago
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