In an installment loan, a lender loans a borrower a principal amount P, on which the borrower will pay a yearly interest rate of i (as a fraction, e.g. a rate of 6% would correspond to i=0.06) for n years. The borrower pays a fixed amount M to the lender q times per year. At the end of the n years, the last payment by the borrower pays off the loan.
After k payments, the amount A still owed is
<span>A = P(1+[i/q])k - Mq([1+(i/q)]k-1)/i,
= (P-Mq/i)(1+[i/q])k + Mq/i.
</span>The amount of the fixed payment is determined by<span>M = Pi/[q(1-[1+(i/q)]-nq)].
</span>The amount of principal that can be paid off in n years is<span>P = M(1-[1+(i/q)]-nq)q/i.
</span>The number of years needed to pay off the loan isn = -log(1-[Pi/(Mq)])/(q log[1+(i/q)]).
The total amount paid by the borrower is Mnq, and the total amount of interest paid is<span>I = Mnq - P.</span>
Answer:
For every pound that the package weight increases, the price of sending it increases by $3.80.
Step-by-step explanation:
The coefficient 3.80 multiplies the variable x (package weight), so if x is 1 pound the cost increase $3.80, if x is 2 pound the cost increase 2*3.80 = $7.6, and so on. Generally speaking, for every pound that the package weight increases the cost increases by $3.80.
Answer:
8 Books
Step-by-step explanation:
First find how many she had before buying 8 more-
12 - 8 = 4
Then multiply that by 2
4 x 2 = 8
The had 8 books to begin with
Answer:
your answer should be x = -3
Answer:
lines are not perpendicular or parallel
