He actually borrowed P=21349-3000=18349 (present value)
Assume the monthly interest is i.
then future value due to loan:
F1=P(1+i)^n=18349(1+i)^(5*12)=18349(1+i)^60
future value from monthly payment of A=352
F2=A((1+i)^n-1)/i=352((1+i)^60-1)/i
Since F1=F2 for the same loan, we have
18349(1+i)^60=352((1+i)^60-1)/i
Simplify notation by defining R=1+i, then
18349(R^60)-352(R^60-1)/(R-1)=0
Simplify further by multiplication by (R-1)
f(R)=18349*R^60*(R-1)-352(R^60-1)=0
Solve for R by trial and error, or by iteration to get R=1.004732
The APR is therefore
12*(1.004732-1)=0.056784, or 5.678% approx.
Answer:
35 ok
Step-by-step explanation:
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Ur answr would be 154.50 because if u do 30.90 5 times or times 30.90 by 5 its 154.50
First, we need to convert 0.75 feet to inches.
0.75 feet = 9 inches
Now, we need to divide 9 by how many hours are in a day, which is 24.
9/24 = 0.375
The raindrop vine can grow up to 0.375 inches per hour.
The number is 12
12 + 4 = 16
4 is a third of 12 and 12 + 4 = 16.
