Solve the equation for the variable specified. df + 10h = 3 Solve for d. A. d 3= 10h f B. d. 3- 10h f C. d = 3 - 102 D. d = f(3
1 answer:
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Answer:
The monthly payment for the loan amount for 20 years is $806.167
Step-by-step explanation:
The principal loan amount= $ 50,000
The rate of interest = 7 %
the time period of loan = 20 years = 20 × 12 = 240 months
let the amount after 20 years = $ A
<u>From Compounded method</u>
Amount = Principal ×
or, A = 50,000 ×
or, A = 50,000 ×
Or, A = 50,000 × 3.8696
∴ Amount = $ 193,480
So, The amount after 20 years = $ 193,480
The monthly payment amount = $ = $ 806.167
Hence The monthly payment for the loan amount for 20 years is $806.167 Answer