The value of the credit or present value is
Further explanation:
The compound interest rate formula can be expressed as follows,
Here, represents the amount, represents the present value, irepresent the interest rate and represents the time.
Given:
The number of months are
The interest rate is
The amount overdue is
Explanation:
The value of is
The value of is
The present value or the amount credit can be obtained as follows,
The value of the credit or present value is
Learn more:
1. Learn more about inverse of the functionhttps://brainly.com/question/1632445.
2. Learn more about equation of circle brainly.com/question/1506955.
3. Learn more about range and domain of the function brainly.com/question/3412497
Answer details:
Grade: High School
Subject: Mathematics
Chapter: Loan Schedule
Keywords: Monica, Andrea, loan, 48 consecutive, monthly installments, overdue, $450000, per month, rate charged, band, 22.6745%, NAMV, the value of credit.