Since there are 120 payment and the total interest paid was
$ 14,644.95. so the average monthly interest can be calculated by:
Average monthly interest = $ 14,644.95 / 120
Average monthly interest = $ 122.04
% total interest = ($ 14,644.95) / $ 39,644.95 x 100
% total interest =36.94 %
Answer:
The question isn't completely clear, but I believe that the answer would be 7m. That is the correct format.
Solve for y. Do that by adding the opposite of the x-term, then dividing by the coefficient of y.
11y = 12x - 8
y = (12/11)x - 8/11
The slope is 12/11.
The y-intercept is -8/11.
