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3 years ago

Please help! Pick which answer you want to help me with or you can do all of them :)

1 answer:

7 0

1 ) 116/17 = 7.1875 which is 5.1875 from 2, 17/8 is 2.125 which is 0.125 from 2 and 63/32 is 1.968 which is 0.032 from 2. 63/32 is the closest to 2.

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<span>all real numbers less than or equal to 7</span>

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3 years ago

Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly. What will his balance be after he has made exactly

damaskus [11]

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The balance be after he has made exactly half of his monthly payments is $56881.4.

Step-by-step explanation:

Given : Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly.

To find : What will his balance be after he has made exactly half of his monthly payments?

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Formula of monthly payment ,

$M=\frac{\text{Amount}}{\text{Discount factor}}$

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$D=\frac{1-(1+i)^{-n}}{i}$

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$D=\frac{1-(1.04)^{-120}}{0.04}$

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$D=\frac{0.9909}{0.04}$

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$M=1614.69$

Half of the monthly payment is $807.345

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The balance is $96881.4-$40000=$56881.4

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