Answer:
He must pay $129.45 and the total amount due is $3,629.45.
Step-by-step explanation:
I (interest) =P (principal) x R (rate) x T (time)
I=3500x.09x150/365
I=129.45
A (amount due) = P (principal) + I (interest)
A= 3500 + 129.45
A= $3629.45
This cash flow is a perpetuity. To find the present value of perpetuity, we use the equation of
Pv=C÷r
Pv=39,000÷0.058
Pv=672,413.79
360 degrees in a circle divided by 5 is 72
Ur mom and a buttcheek on a stick