(2^3)=2*2*2=8
(2^-7)=1/2*1/2*1/2*1/2*1/2*1/2*1/2=1/128
8*1/128=1/16=.0625
Answer:
17.1
Step-by-step explanation:
<h3>
Answer: $1067.45</h3>
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Work Shown:
L = 165000 = loan amount or amount financed
r = 0.06725 = annual interest rate in decimal form
i = r/12 = 0.06725/12 = 0.005604167
i = 0.005604167 = approximate monthly interest rate in decimal form
n = number of months = 30*12 = 360 months
P = unknown monthly payment
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Apply the monthly payment formula
P = (L*i)/( 1-(1+i)^(-n) )
P = (165000*0.005604167)/(1-(1+0.005604167)^(-360))
P = 1067.44636311118
P = 1067.45
