Present value of annuity PV = P(1 - (1 + r/t)^-nt) / (r/t)
where: p is the monthly payment, r is the APR = 14.12% = 0.1412, t is the number of payments in one year = 12, n is the number of years = 2.
1,120.87 = P(1 - (1 + 0.1412/12)^(-2 x 12)) / (0.1412 / 12)
0.1412(1120.87) = 12P(1 - (1 + 0.1412/12)^-24)
P = 0.1412(1120.87) / 12(1 - (1 + 0.1412/12)^-24) = $53.88
Minimum monthly payment = 3.15% of 1120.87(1 + 0.1412/12) = 0.0315 x 1120.87(1 + 0.1412/12) = $35.72
Therefore, his first payment will be greater than the minimum payment by 53.88 - 35.72 = $18.16
Answer:
depends which way you rotate it
Step-by-step explanation:
counterclockwise rotation: (6,5)
clockwise rotation: (-6,-5)
Answer:
200 muffins
Step-by-step explanation:
The selling price of each muffin = $2
The cost price of each muffin = $1.40
The price of electricity = $120
If the number of muffins that Jenny sells in a day is x, then, Jenny's total cost in a day is:
120 + (1.4 * x) = 120 + 1.4x
and the total sales earnings in a day for x muffins will be:
2 * x = 2x
To break even, the total costs in a day must equal to the total earnings. That is;
Solving this:
She must sell 200 muffins in a day to break even.
Answer:
y=3x+5
Step-by-step explanation:
I think that this is what they mean...
y=mx+b
y=3x+b
y=3x+5
plug in #s
5=15+5
5=20 no
Answer:
0.27 cubic feet of mulch is remaining
Step-by-step explanation:
Quantity in the bag = 2 7/16 cubic feet of mulch
Quantity used = 8/9 of the bag in his garden
Mulch used = 8/9 of 2 7/16
= 8/9 × 39/16
= 1/9 × 39/2
= 39/18
= 2 3/8 used
Total mulch left = Total mulch in the bag - mulch used
= 2 7/16 - 2 3/8
= 39/16 - 39/18
= 702-624/288
= 78/288
= 0.27 cubic feet of mulch is remaining
