Answer: her monthly payments would be $267
Step-by-step explanation:
We would apply the periodic interest rate formula which is expressed as
P = a/[{(1+r)^n]-1}/{r(1+r)^n}]
Where
P represents the monthly payments.
a represents the amount of the loan
r represents the annual rate.
n represents number of monthly payments. Therefore
a = $12000
r = 0.12/12 = 0.01
n = 12 × 5 = 60
Therefore,
P = 12000/[{(1+0.01)^60]-1}/{0.01(1+0.01)^60}]
12000/[{(1.01)^60]-1}/{0.01(1.01)^60}]
P = 12000/{1.817 -1}/[0.01(1.817)]
P = 12000/(0.817/0.01817)
P = 12000/44.96
P = $267
Here is the formula you'll need
Total = Principal * (1 + (rate/n))^n*years
I don't know how to solve that for "n" so we'll use trial and error.
If compounded annually, total =
<span>
<span>
<span>
10,841.24
</span>
</span>
</span>
If compounded quarterly, total =
<span>
<span>
<span>
10,955.64
</span>
</span></span><span>If compounded monthly, total =
</span>
<span>
<span>
<span>
10,981.82
</span>
</span>
</span>
If compounded daily, total =
<span>
<span>
<span>
10,994.58
</span>
</span>
</span>
Therefore the answer is "A", daily.
Source:
http://www.1728.org/compint3.htm
<span>
</span><span><span>
</span>
</span>
Answer:
5
Step-by-step explanation:
y=3x-5 if you graph it it will go through -5 and end up at 5,10
The value of y when the value of x is 8 is 87
<h3>Function and values</h3>
Functions are equation expressed in terms of variables. Given the expression below;
y = 10x + 7
If the value of x is 8, then on substituting, we will have:
y = 10(8) + 7
y = 80 + 7
Simplify
y = 87
Hence the value of y when the value of x is 8 is 87
Learn more on function and values here: brainly.com/question/10439235
#SPJ1
This is truly a simple, one-step equation if looked at in the right angle.
You're going to want to multiply 115 by .952:
115
<u> x .952
</u> 230
+ 6050
<u>+ 93500
</u> 109.48
$109.48 is your final answer.
