Answer:
$1,114.66
Step-by-step explanation:
Data provided in the question:
Monthly periodic rate = 2.15% = 0.0215
current Charges = $189.34
Payment made = $100.00
Finance charge = $21.54
Now,
Previous balance = Finance charges ÷ Rate
= $21.54 ÷ 0.0215
= $1001.86
Unpaid balance = Previous balance + Current charges - Payment
= $1001.86 + $189.34 - $100.00
= $1091.2
New balance = Unpaid balance × ( 1 + Rate )
= $1091.2 × ( 1 + 0.0215)
= $1,114.66
Answer:
(0, inf)
Step-by-step explanation:
The average rate of change of a function is related to it's first derivative. When the first derivative is positive, the average rate of change is positive, which means that the function is crescent.
Now, when the first derivative is negative, the average rate of change will be negative too, and the function is going to be decrescent.
In your function.
We have: f'(x) = 2x
2x > 0 when x > 0. So when x > 0 the average rate of change of your function is positive, and it's values increases as the time increases. When x < 0, the average rate of change is negative, so, as the time increases, the values of f decrease.
You can use a graphic tool to plot f and visualize this better.
The payments are ...
A = P(r/n)/(1 -(1+r/n)^(-nt))
where P is the principal amount, $699,000*0.80 = $559,200
r is the annual interest rate, 0.05
n is the number of compoundings per year, 12
t is the number of years.
Then
A = 559,200*(0.05/12)/(1 -(1 +0.05/12)^(-12*35)) = 2822.21
The total of 420 of these payments is $1,185,328.20, which is $626,128.20 more than the loan amount.
Jamie's total finance charge is about $626,128.20.
_____
There is always some minor adustment required in the amount of the last payment. That has not been taken into account here.
The answer for your question is 1,950
