Answer:
The monthly payment for the loan amount for 20 years is $806.167
Step-by-step explanation:
The principal loan amount= $ 50,000
The rate of interest = 7 %
the time period of loan = 20 years = 20 × 12 = 240 months
let the amount after 20 years = $ A
<u>From Compounded method</u>
Amount = Principal ×
or, A = 50,000 ×
or, A = 50,000 ×
Or, A = 50,000 × 3.8696
∴ Amount = $ 193,480
So, The amount after 20 years = $ 193,480
The monthly payment amount = $ = $ 806.167
Hence The monthly payment for the loan amount for 20 years is $806.167 Answer
Answer:
D. 81
Step-by-step explanation:
Raise
3
to the power of
4
.
81
=
x
Rewrite the equation as
x
=
81
.
x
=
81
Answer:
Step-by-step explanation:
<u> </u>
3.4 or 3.4 repeating (3.4444444444444444444444∞)
and
3.44 rounded to the hundredth