Present Value of an annuity is given by the formular
PV = P(1 - (1 + r)^-n)/r; where PV = $28,000, r = 0.081/12 = 0.00675, n = 35 and P is the periodic (monthly) payment.
P = PVr/(1 - (1 + r)^-n) = (28,000 x 0.00675)/(1 - (1 + 0.00675)^-35) = 189/0.2098 = 900.90
Therefore, the monthly payment is $900.90
Answer: x+3y−9
Step-by-step explanation:
Simplify the expression.
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Answer:
10y
solve. you need to combine like terms and subtract.
Answer:
C
Step-by-step explanation:
Imagine your going 61 steps per hour and you have already walked 220 steps. You want to walk 677 steps in total. First you minus the amount you have done then each hour add 61 steps which would be the x for each hour
Year 1: 2,000 x 3% = 60 2,000 + 60 = 2,060 Year 2: 2,060 x 3% = 61.8 2,060 + 61.8 = 2,121.8 So, the answer is there will be £2,121 in the bank account after 2 years.
