PLEASE HELP the formula m=12,000+12,000rt/12t gives keri's monthly loan payment where t is the annual interest rate and t is the
1 answer:
Answer:
The answer is below
Step-by-step explanation:
The formula m = (12,000 + 12,000rt)/12t gives Keri's monthly loan payment, where r is the annual interest rate and t is the length of the loan, in years. Keri decides that she can afford, at most, a $275 monthly car payment. Give an example of an interest rate greater than 0% and a loan length that would result in a car payment Keri could afford. Provide support for your answer.
Answer: Let us assume an annual interest rate (r) = 10% = 0.1. The maximum monthly payment (m) Keri can afford is $275. i.e. m ≤ $275. Using the monthly loan payment formula, we can calculate a loan length that would result in a car payment Keri could afford.
The loan must be at least for 5.72 years for an annual interest rate (r) of 10%
You might be interested in
The next term is 1.4 larger than the one before it, so the appropriate choice is
_____
However, the description
also correctly describes the relationship between a1 and a2, for example. While this equation is technically correct, it is less useful to work with, so is probably not the expected answer.
<span>Graph the line for y+1=−35(x−4) on a coordinate plane. See attachment for your Answer.</span>
