This question can be approached using the present value of annuity formula. The present value of annuity is given by

, where: PV is the present value/amount of the loan, P is the periodic (monthly in this case) payment, r is the APR, t is the number of payments in one year and n is the number of years.
Given that the<span> financing is for a new road bike of $2,500 and that the bike shop offers a 13.5% APR for a 24 month loan.
Thus, PV = $2,500; r = 13.5% = 0.135; t = 12 payments (since payment is made monthly); n = 2 years (i.e. 24 months)
Thus,
</span>

<span>
Therefore, his monthly payment is $119.44</span>
Answer:
-5/9
Step-by-step explanation:
−4/5 divided by 12
/5
=-20/36
simplify
=-5/9
Answer:
1/5 + 1/5 + 1/5 + 1/5 = 4/5
Step-by-step explanation:
Answer:
4.5 ft^3
Step-by-step explanation:
note to convert 18 in. to feet = 1.5 feet
divide the length value by 12
Answer:
40%
Step-by-step explanation:
You do 10/25 and to make that a fraction you have to make the denominator 100 so we multiply the numerator and denominator by 4. Which gets us 40/100 or 40%.
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