Initially, Charlotte owes $7680. She finishes her payments after a total of 6 + 36 = 42 months. Using a simple compounding formula, the amount she owes is worth P at the end of 42 months, where P is:
P = 7680 * (1 + .2045/12)^42 = 15616.67379
Now, the first installment she pays (at the end of six months) is paid 35 months in advance of the end, so it is worth x * (1 + .2375/12)^35 at the end of her loan period.
Similarly, the second installment is worth x * (1 + .2375/12)^34 at the end of the loan period.
Continuing, this way, the last installment is worth exactly x at the end of the loan period.
So, the total amount she paid equals:
x [(1 + .2375/12)^35 + (1 + .2375/12)^34 + ... + (1 + .2375/12)^0]
To calculate this, assume that 1+.2045/12 = a. Then the amount Charlotte pays is:
x (a^35 + a^34 + ... + a^0) = x (a^36 - 1)/(a - 1)
Clearly, this value must equal P, so we have:
x (a^36 - 1)/(a - 1) = P = 15616.67379
Substituting, a = 1 + .2045/12 and solving, we get
x = 317.82
Answer:
a. 14
b. 28
Step-by-step explanation:
a. ex: (6+3)2 - 4 = 9(2) - 4
18 - 4 = <u>14</u>
b. ex: 23 + (14 - 4) / 2
Use PEMDAS
P 1st
10
D over A
5
A
<u>28</u>
<em><u>Hope this helps!</u></em>
Answer:
1.8 or 1 4/5 should be the answer!
Answer:
x=67 y=113 x=52
Step-by-step explanation:
85+28= 113
180-113=67
67= x
67+28=95
95+85=180
y= 28+ 85 =113
113+15= 128
180-128=52
52=x
24a+48=18a-36
24a-18a=-36-48
6a=-74
a=-74/6
a=-37/3