They have the same slope, but different y-intercepts, making them parallel.

To solve for
, we need to isolate it on one side of the equation.
The most important part of this is knowing that whatever we do to one side of the equation, we must also do to the other.
Subtract 32 from both sides of the equation.

Divide both sides of the equation by
.

Answer:
The payment per period is $714.82.
Step-by-step explanation:
Given information: PV=$24,122; n = 70; i = 0.024
The formula for payment per period is

Substitute PV=$24,122; n = 70; i = 0.024 in the above formula.




Therefore the payment per period is $714.82.