<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
The first thing you have to do is know the equation. The equation is a(1+p)^t.
a= the amount of money p= the percent represented as a decimal and t=time ( the t is raised as an exponent)
so, in this case, it is represented as 200(1+0.05)^2\
200(1.05)^2
200(1.1025)
220.5 That is how much extra he would owe in interest fee's
46395 is greater than (>) 14906
Okay so we just need to find out the pattern...
in this case the pattern is adding..
we did
1 + 4 = 5
2 + 5 = 12
we figure this one out by adding 2 and 5 twice so it look like this
2 + 5 + 5 = 12
now moving on to our next one
3 + 6 = 21
so we added 3 and added 6, three times so look
3 + 6 + 6 + 6 = 21
so now
8 + 11 = 96 because we added 8 and added 11, eight times look..
8 + 11 + 11 + 11 + 11 + 11 + 11 + 11 + 11 = 96
so our answer to 8 + 11 is 96!
hope this helps:)
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