Answer:
a = 9
Step-by-step explanation:
Simplifying
8.1 = 0.9a
Solving
8.1 = 0.9a
Solving for variable 'a'.
Move all terms containing a to the left, all other terms to the right.
Add '-0.9a' to each side of the equation.
8.1 + -0.9a = 0.9a + -0.9a
Combine like terms: 0.9a + -0.9a = 0.0
8.1 + -0.9a = 0.0
Add '-8.1' to each side of the equation.
8.1 + -8.1 + -0.9a = 0.0 + -8.1
Combine like terms: 8.1 + -8.1 = 0.0
0.0 + -0.9a = 0.0 + -8.1
-0.9a = 0.0 + -8.1
Combine like terms: 0.0 + -8.1 = -8.1
-0.9a = -8.1
Divide each side by '-0.9'.
a = 9
Simplifying
a = 9
Answer:
total payment = $563,760
Interest = $383,760
Principal part = $66
Step-by-step explanation:
(a) total payment:
n = 30 years = 360 months
monthly payment = $1,566
Total payment = $1,566 * 360 months = $563,760
(b) interest:
Total payment = $563,760
Principal = $180,000
Total payment = Principal + Interest
Interest = Total payment - Principal
Interest = $563,760 - $180,000 = $383,760
(c) part of first payment applied to the principal:
First payment = $1,566
Principal = $180,000
Interest rate = 10% yearly = 10% / 12 = 0.8333% = 0.008333 monthly
Monthly interest = Principal * Interest rate = $180,000 * 0.008333 = $1,500
Principal part = $1,566 - $1,500 = $66
Hope this helps!
To find the final term to compete the square you need to divide the 'x' term by 2 then square it
- equivalent equation
Amount borrowed, P = 13000
Interest, i = 0.07/12 per month
number of periods (months), n = 4*12 = 48
Monthly payment,
=
311.30 (to the nearest cent)
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest.
