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3 years ago

Elmer took out an 18-month loan for $1400 at an appliance store to be paid

Mathematics

2 answers:

Dominik [7]3 years ago

7 0

Answer:

N= 9, PV= 1658

Step-by-step explanation:

Mamont248 [21]3 years ago

7 0

Answer:

D) N=9; 1% = 22.8; PV=-1658.42; PMT=; FV=0; P/Y=12; C/Y=12; PMT:END

Step-by-step explanation:

Since the loan offers no payments during the first 9 months, then N = 9 months instead of 18 months.

The interest rate remains the same = 22.8%

The present value of the loan = the future value of the loan's principal on the ninth month = -$1,400 x [1 + (22.8% x 9/12)]⁹ = -$1,400 x 1.184 = -$1658.42

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<h3>What is a BODMAS rule?</h3>

For the Bracket, Order, Division, Multiplication, Addition, and Subtraction rules, BODMAS stands for Bracket, Order, Division, Multiplication, Addition, and Subtraction.

Given expression ;

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Follow the BODMAS rule;

Step 1; Divide

$\rm \frac{9(5x+1)}{3y} \\\\ \frac{3(5x+1)}{y} \\\\$

Step 2; Multiply

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Hence the expression obtained after solving the given expression is, $\rm \frac{(15x+3)}{y}$

To learn more about the BODMAS rule, refer to brainly.com/question/23827397.

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