I'm sorry my friend but I need as much help as you do I'm just answering this so I can get some help sorry
The Present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt)/(r/t)
where: P is the monthly payment, r is the annual rate = 7% = 0.07, t is the number of periods in one year = 12 and n is the number of years = 3.
18,000 - 6,098 = P(1 - (1 + 0.07/12)^-(3 x 12)) / (0.07/12)
11,902 = P(1 - (1 + 0.07/12)^-36) / (0.07/12)
P = 0.07(11,902) / 12(1 - (1 + 0.07/12)^-36) = 367.50
Therefore, monthly payment = $367.50
This sounds like simple addition & subtraction.
Total revenue = $3,000
Cost of goods = $1,500
Total expenses = $500
Profit = x
x = 3,000 - 1,500 + 500
x = 3,000 - 2000
x = 1,000
Profit for the business is $1,000
