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
<span>427 - 62 - 78 - 54 = 233
You will have $233 dollars left in you bank account</span>
Answer:
4.7x10^6
Step-by-step explanation:
Scientific notation can not exceed the ones place so you multiply that by 10^6 (1,000,000) to get 4,700,000
Answer:
The original number of oranges purchased is 260
Step-by-step explanation:
Let the original number of oranges purchased be x
We are given that The number of oranges a grocery store bought this year was 15% more than the number of oranges bought last year.
So, Oranges bought this year =
We are given that This year the store bought 299 oranges.
So,
x=260
Hence the original number of oranges purchased is 260