Fins the product of 5/12 And 3/8
1 answer:
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1) factor to see if you can get anything to cancel out before you multiply
2) the rest of my work is shown in the picture attached
3) the answer is n^2
2) the rest of my work is shown in the picture attached
3) the answer is n^2
Using it's formula, it is found that the monthly payments for the loan of the apartment is of $7,260.50.
<h3>What is the monthly payment formula?</h3>It is given by:
In which:
- P is the initial amount.
- r is the interest rate.
- n is the number of payments.
In this problem, the parameters are given as follows:
P = 500000, r = 0.123, n = 12 x 10 = 120.
Hence:
r/12 = 0.123/12 = 0.01025.
Then, the monthly payments will be of:
A = 7260.50.
More can be learned about the monthly payment formula at brainly.com/question/26267630
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