The question is an annuity question with the present value of the annuity given.
The
present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt) /
(r/t) where PV = $61,600; r = interest rate = 9.84% = 0.0984; t = number
of payments in a year = 6; n = number of years = 11 years and P is the
periodic payment.
61600 = P(1 - (1 + 0.0984/6)^-(11 x 6)) / (0.0984 / 6)
61600 = P(1 - (1 + 0.0164)^-66) / 0.0164
61600 x 0.0164 = P(1 - (1.0164)^-66)
1010.24 = P(1 - 0.341769) = 0.658231P
P = 1010.24 / 0.658231 = 1534.78
Thus, Niki pays $1,534.78 every two months for eleven years.
The total payment made by Niki = 11 x 6 x 1,534.78 = $101,295.48
Therefore, interest paid by Niki = $101,295.48 - $61,600 = $39,695.48
<h3>
Explanation:</h3>
In the graph x-coordinate represents the number of wind chimes sold and y-coordinate represents the profit Madison earned. If a point is below the x-axis, means it has negative y-coordinate than it represents loss. Points above x-axis should have x-coordinate more than 6 as stated in the question that she started earning profit after selling her first 6 wind chimes. All the points having x-coordinate less than 6 should lie on or below the x-axis.
By the above statement point B is completely wrong. Point C and Point A are also wrong as they both x-coordinate more than 6 but still they are below x-axis.
Point D is the makes most sense here as it has x-coordinate more than 6 and it is above x-axis. This means that when Madison sold 7 wind chimes she was in a profit of $3.75.
Answer:
slope = 2
Step-by-step explanation:
Calculate the slope m using the slope formula
m = (y₂ - y₁ ) / (x₂ - x₁ )
with (x₁, y₁ ) = (0, 8) and (x₂, y₂ ) = (- 4, 0)
m = 
= 
= 2
Answer:
a
Step-by-step explanation:
because i got it right
Answer:
522 miles
Step-by-step explanation:
174 x 4 = 522
