The payments are ...
A = P(r/n)/(1 -(1+r/n)^(-nt))
where P is the principal amount, $699,000*0.80 = $559,200
r is the annual interest rate, 0.05
n is the number of compoundings per year, 12
t is the number of years.
Then
A = 559,200*(0.05/12)/(1 -(1 +0.05/12)^(-12*35)) = 2822.21
The total of 420 of these payments is $1,185,328.20, which is $626,128.20 more than the loan amount.
Jamie's total finance charge is about $626,128.20.
_____
There is always some minor adustment required in the amount of the last payment. That has not been taken into account here.
Answer:
b) in the fourth round, there was one team left in the tournament.
c) no because with only one team left, the tournament ends.
Answer: D 87%
Step-by-step explanation:
Ap-ex
To find the area of the trapezoid you add the two bases then multiply by the base and divide by 2.
B1+b2= 24+16=40
40*h=40*12=480
480/2=240
D. 240 square feet.
