Answer:
$550.97
Step-by-step explanation:
The amortization formula will tell you the payment amount.
A = P(r/12)/(1 -(1 +r/12)^(-12t))
where A is the monthly payment, P is the principal amount of the loan, r is the annual interest rate, t is the number of years. Using your values, this is ...
A = $12,000(0.095/12)/(1 -(1 +0.095/12)^(-12·2)) ≈ $550.97
The amount of Gerald's payment is $550.97.
The answer is: 4.1, 4.085, 4.01, 4.009
Answer:
In general, the salary S in terms of years of experience Y is S = 2700Y + 3200
Step-by-step explanation:
we start at 32000 without experience.
as the experience goes up, the wage increases 2700 per year so we can multiply 2700 by the years of experience to find the increase of salary. To find the salary of a certain employee with a certain amount of experience, plug the years of experience in for Y and solve.
for Y=0
S= 2700(0) + 3200 = 0 + 3200 = 0
for Y=2
S= 2700(2) + 3200 = 5400 + 3200 = 8600
for Y=5
S= 2700(5) + 3200 = 13500 + 3200 = 16700
for Y=7
S=2700(7) + 3200 = 2700(5) + 2700(2) + 3200 = 5400 + 13500 + 3200 = 22100
