Present Value of an annuity is given by the formular
PV = P(1 - (1 + r)^-n)/r; where PV = $28,000, r = 0.081/12 = 0.00675, n = 35 and P is the periodic (monthly) payment.
P = PVr/(1 - (1 + r)^-n) = (28,000 x 0.00675)/(1 - (1 + 0.00675)^-35) = 189/0.2098 = 900.90
Therefore, the monthly payment is $900.90
Answer:
The range for the equation is all real numbers.
Step-by-step explanation:
The range of an equation is the set of y-values that you can get by plugging in all possible x-values.
Another way to put it is, when you graph the equation, whatever y-values the line produces, is its range.
Graphing y=2x-3, you can see it is a graph with a positive slope that extends from negative infinity y-value to positive infinity x-value.
