I spent 15dollars. earned 30dollars. spent 12 dollars now have 18dollars. how much did I begin with?
2 answers:
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Answer:
$151.73
Step-by-step explanation:
No doubt you were given a formula for computing the payment in this situation. You have not provided it here, so we have chosen to use "technology" to find the payment value. A financial calculator or app, or a spreadsheet program can do this computation for you.
_____
We believe the applicable formula to be ...
A = P·(r/12)/(1 -(1 +r/12)^(-18)) . . . . . where r is the annual interest rate; P is the starting balance, and 18 is the number of months over which payments will occur.
Filling in P=2513.77 and r=0.1066, this expression evaluates to ...
A = 2513.77·(.1066/12)/(1 -(1+.1066/12)^-18) ≈ 151.73472 ≈ 151.73
