Find the area of the CD. (I used P for pi, too lazy @
[email protected])
A=Pr² - Pr²
radius of the small hole in the middle, 0.75cm
radius of the CD, 6cm
A=3.14*6²-3.14*0.75²
A=111.27375cm²
The Approximate area of the CD is 111.27cm²
The applicable formula is
A = P(r/12)/(1 -(1+r/12)^(-12n))
where P is the principal amount,
r is the annual interest rate (compounded monthly), and
n is the number of years.
Using the formula, we find
A = 84,400*(0.04884/12)/(1 -(1+0.04884/12)^(-12*15))
= 84,400*0.00407/(1 -1.00407^-180)
= 343.508/0.518627
≈ 662.34
The monthly payment on a mortgage of $84,400 for 15 years at 4.884% will be
$662.34
It is 102.5. You made it kind of confusing at first by putting the divisor first in your question then putting your dividend, but I understand what you meant.
