Find the amount and present value of 10 quarterly payments of $ 1500, if the interest rate is 25% compounded each month.
1 answer:
Given Information:
Monthly payment = MP = $1500/4 = $375
Monthly interest rate = r = 25/12 = 2.083%
Required Information:
Present Value = ?
Answer:
Explanation:
n = 10*4
n = 40 monthly payments
The present value is found by
Where r is monthly interest rate.
MP is the monthly payment.
Therefore, $10,110 is the present value of 10 quarterly payments of $1500 each at 25% interest rate compounded each month.
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Answer:
the function given
for 4 units up, just add 4 as a constant
4 units up means, every old value will now be 4 more than previous value. at x=0, y=0 in the transformed curse it should x=0 and y=4, so just add it.
for 6 units left,
each old value of y should now occur 6 units before the old value of x i.e. X=x+6
for example, the point (0,0) should occur at (-6,0) in the transformed graph,
hence,
so the final curve is