Answer:
$45.22
Step-by-step explanation:
The number of miles per gallon can be represented by the ratio:
Since we know the unit rate of 26 miles per gallon of gas, we can set up a proportion, or equivalent ratios, to find the number of gallons needed for 420 miles:
, where 'x' is the number of gallons of gas
cross-multiply and divide: 26x = 420 or x ≈ 16.15 gallons
If gas is $2.80 per gallon, take the total number of gallons needed and multiply by $2.80:
16.15 x $2.80 = $45.22
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