Answer:
0.69
Step-by-step explanation:
Hope this helps..
Answer: $249,300
Step-by-step explanation:
The exact formula would be if I think this is right
PV = PMT(1-(1+r)^-n)/r with r & n adjusted for periodicity
= 1400(1-(1+.054/12)^-360)/(.054/12)
= $249,318.47
which you can round off to, say, $249,300 <------
note:
counterchechecked with a financial calculator
The correct answer is the second one
5/3+2/5=25/15+6/15=31/15=2 1/15
2 1/15 or 31/15
