Answer:
2.73
Step-by-step explanation:
You could use a calculator if your teacher/instructor lets you! :)
OR you could do long division.
Answer:

Step-by-step explanation:
<u>Compound Interest</u>
This is a well-know problem were we want to calculate the regular payment R needed to pay a principal P in n periods with a known rate of interest i.
The present value PV or the principal can be calculated with

Solving for R

Where Fa is computed by

We'll use the provided values but we need to convert them first to monthly payments




Thus, each payment is


Step-by-step explanation:
(4/3)–1 = 3/4 and (1/4)–1 = 4/1
now we have,
(3/4 - 4)–1 = (-13/4)–1
= -4/13