Answer:
45
Step-by-step explanation:
Present Value of an annuity is given by the formular
PV = P(1 - (1 + r)^-n)/r; where PV = $28,000, r = 0.081/12 = 0.00675, n = 35 and P is the periodic (monthly) payment.
P = PVr/(1 - (1 + r)^-n) = (28,000 x 0.00675)/(1 - (1 + 0.00675)^-35) = 189/0.2098 = 900.90
Therefore, the monthly payment is $900.90
Start with d=rt. Now, solve for r by isolating it. since r is multiplied by t, divide both sides by t. d/t=r. So your answer would be the 2nd choice.
The ratio for questions number 2 is C aka 3 to 5
