First figure the ratio of the real building to the model which is 21 divide 3. So the ratio is 1:7, since we're finding the height of the model, we divide 7 by 84 which is 12

7 0

2 years ago

Joan Messineo borrowed $47,000 at a 5% annual rate of interest to be repaid over 3 years. The loan is amortized into three eq

tester [92]

Answer:

a) The value of the Annual Payment is A=$17,258.80

b) Is the picture in the attachment file

c) As you can see it in the picture with each payment, balance comes down, due it is the interest base, Interest portion comes down too.

Step-by-step explanation:

a) First of all, we are going to list the Knowns: $VP=47000$ , $i=5$ % and $n=3$ , Then we can use $A=\frac{VP}{\frac{1-(1+i)^{-n} }{i} } =\frac{47000}{\frac{1-(1+0.05)^{-3} }{0.03} }=17258.80$ . So this is the value of the Annual Payment

6 0

3 years ago

0.008 is 1/10 of what

sp2606 [1]

0.008 x 1/10 = 0.0008

8 0

3 years ago