This question can be approached using the present value of annuity formula. The present value of annuity is given by
, where: PV is the present value/amount of the loan, P is the periodic (monthly in this case) payment, r is the APR, t is the number of payments in one year and n is the number of years.
Given that the<span> financing is for a new road bike of $2,500 and that the bike shop offers a 13.5% APR for a 24 month loan.
Thus, PV = $2,500; r = 13.5% = 0.135; t = 12 payments (since payment is made monthly); n = 2 years (i.e. 24 months)
Thus,
</span>
<span>
Therefore, his monthly payment is $119.44</span>
Answer: i think this is the answer
3
Step-by-step explanation:
8(-x)=4x-36
-8x=4x-36
subtract 4x from both sides
-12x=-36
x=3
The answer is B) (6,-8.75).
Answer is 2 to the power of 6.
HOPE IT HELPED! :)
Answer: a 2
Step-by-step explanation: