Answer: Yes, because 3502.86 is multiplied by the exponent. i think, because i was stuck between that and the other yes, and the other yes was wrong, so im pretty sure its that.

Tell me if im right.

Step-by-step explanation:

5 0

3 years ago

A vehicle is purchased for $18,000, with a down payment of $6,098. The balance in financed for three years at an annual rate of

mestny [16]

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

7 0

2 years ago

Amanda walked 2.5 miles to the post office and another 1.6 miles to the park then she walked home following the same route how f

adell [148]

2.5+2.5+1.6+1.6= 8.2 miles

Hope this helps!

8 0

3 years ago