Convert 7/66 to a decimal equivalent
1 answer:
= 0.10606
Step-by-step explanation:
Since we have only one digit in the numerator and the denominator has 2 digits, we have to 0 along with 7, so that it becomes 70, 1 time 66 is 66, 70 - 66 = 4 is the remainder, so the quotient is 0.1, then along with 4 we have to add one 0 , so it becomes 40 which is lesser than 66 so one more 0 is added and then it becomes 400, 6 times 66 is 396, 400 - 396 = 4 again the process going on. The quotient is 0.10606...
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Answer:
$121
Step-by-step explanation:
A suitable calculator or spreadsheet can tell you the payment amount for the given loan values. The annual interest rate will be 12 times the monthly, rate, or 2.4%. The number of monthly payments in 12 years is 12×12 = 144.
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A calculator shows the monthly payment will be about $121.
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If you want to figure this "by hand," the amortization formula is used.
A = Pr/(1 -(1+r)^-t)
where P is the loan amount, r is the monthly interest rate, and t is the number of months.
A = 15100(0.002)/(1 -(1.002^-144)) ≈ 120.789 ≈ 121
The monthly payment would be $121.
