He actually borrowed P=21349-3000=18349 (present value)
Assume the monthly interest is i.
then future value due to loan:
F1=P(1+i)^n=18349(1+i)^(5*12)=18349(1+i)^60
future value from monthly payment of A=352
F2=A((1+i)^n-1)/i=352((1+i)^60-1)/i
Since F1=F2 for the same loan, we have
18349(1+i)^60=352((1+i)^60-1)/i
Simplify notation by defining R=1+i, then
18349(R^60)-352(R^60-1)/(R-1)=0
Simplify further by multiplication by (R-1)
f(R)=18349*R^60*(R-1)-352(R^60-1)=0
Solve for R by trial and error, or by iteration to get R=1.004732
The APR is therefore
12*(1.004732-1)=0.056784, or 5.678% approx.
Answer:
the answer is 
Hope this helps :}
Step-by-step explanation:
Here are 2 bowls. One of them has 25 gems and the other has 15 gems. Some of them are red. All the gems from the two bowls are now put into a third bowl. What fraction of the gems in the third bowl will be red?
Answer:
(2,2)
Step-by-step explanation:
The graph of a function and that of its inverse should be always symmetric around the line y = x (goes at 45 degrees and crosses the origin of coordinates).
Therefore any intersection of the graphs must lie on the line y = x, which forces the x value of the intersection point to be the same as the y-value.
The only option shown where x and y have the same numerical value is the third listed option : (2,2)
50/80, then divide it by ten so the answer is 5/8. Once the number can divide both numbers your good.
Answer:
5e-10
Step-by-step explanation:
Hope this will help
