Answer:
PV= Max Loan amount = PMT*B(i,T) and PMT = 1200. Calculate B(i,T) = B(6%/12, 360)
=(12/.06)(1-(1/(1.005))360) I will let you complete the calculation
Step-by-step explanation:
Answer:
1
Step-by-step explanation:
Since they are not parallel nor the same line, they have 1 intersecting point, which is the solution.
If they were parallel, they would have no solution.
If they were the same line, they would have infinite solutions.