Formula for monthly payment is:
A = P x (r(1+r)^t)/((1+r)^t-1) where P is the amount financed, r is the interest rate divided by 12 and t is the amount of time for the loan in months.
P = 33714 x 0.85 = 28656.90
A = 28656.90 x (0.07/12 (1+0.07/12)^48) / (1 +0.07/12)^48 - 1)
A = $686.23
<span>
D. 15:1
is equivalent to 30:2. (:</span>
Y = 2x + 50,
It's easier to look at the first set of numbers and then make a formula from there. so we need x to be zero and y to be 50, which is why the formula listed works.
