Answer:
420
Step-by-step explanation:
The Present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt)/(r/t)
where: P is the monthly payment, r is the annual rate = 7% = 0.07, t is the number of periods in one year = 12 and n is the number of years = 3.
18,000 - 6,098 = P(1 - (1 + 0.07/12)^-(3 x 12)) / (0.07/12)
11,902 = P(1 - (1 + 0.07/12)^-36) / (0.07/12)
P = 0.07(11,902) / 12(1 - (1 + 0.07/12)^-36) = 367.50
Therefore, monthly payment = $367.50
Answer:
10 1/2 sticks, or 11 sticks with half a stick left over.
Step-by-step explanation:
If every student (and there are 14 students) needs 3/4 stick of butter, the equation is 3/4 x 14 = 10 1/2
Answer:
11
Step-by-step explanation:
A11
