3 years ago

Round 1.9383 to 1 decimal place

Mathematics

1 answer:

masya89 [10]3 years ago

6 0

1.9 because if the number after it is lower then it is just the first number

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Mark borrowed $5,500 at 11.5 percent for five years. What is his monthly payment?

olya-2409 [2.1K]

Use the formula of the present value of an annuity ordinary which is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 5500
PMT monthly payment?
R interest rate 0.115
K compounded monthly 12
N time 5years
Solve the formula for PMT
PMT=Pv÷ [(1-(1+r/k)^(-kn))÷(r/k)]
PMT=5,500÷((1−(1+0.115÷12)^(
−12×5))÷(0.115÷12))
=120.95

So the answer is C

Hope it helps!

5 0

3 years ago

Read 2 more answers

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Reil [10]

Step-by-step explanation:

all work is shown and pictured