Answer:
The correct answer to the following question will be "70.56".
Step-by-step explanation:
The given values are:
Loan requires, PV = $100,000
Years = 20
Number of months, n = 240
Rate interest = 4.90000%
Monthly rate, r = 0.408333%
Monthly rental payment = $725
As we know,
![PV=PMT\times (\frac{1}{r})\times [1-[\frac{1}{(1+r)^n}]]](https://tex.z-dn.net/?f=PV%3DPMT%5Ctimes%20%28%5Cfrac%7B1%7D%7Br%7D%29%5Ctimes%20%5B1-%5B%5Cfrac%7B1%7D%7B%281%2Br%29%5En%7D%5D%5D)
On putting the values in the above formula, we get
⇒ ![100000=PMT\times (\frac{1}{0.004083333})\times [1-(\frac{1}{(1+0.004083333^{240})})]](https://tex.z-dn.net/?f=100000%3DPMT%5Ctimes%20%28%5Cfrac%7B1%7D%7B0.004083333%7D%29%5Ctimes%20%5B1-%28%5Cfrac%7B1%7D%7B%281%2B0.004083333%5E%7B240%7D%29%7D%29%5D)
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Now,
On putting the values, we get
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Answer:
4(z) = 16
Step-by-step explanation:
Product = the result of multiplication.
The same as = the equal sign.
Answer:
The Schusters will have to pay $2,034 in the sixth month.
Step-by-step explanation:
Since Carpet King is trying to increase sales, and it has instituted a new promotion by which all purchases can be paid on the installment plan with no interest, as long as the total is paid in full within six months, and there is a $20 minimum monthly payment required, if the Schuster family buys carpeting for $2,134 and makes only the minimum payment for five months, to determine how much will they have to pay in the sixth month, the following calculation must be performed:
2134 - (5 x 20) = X
2134 - 100 = X
2034 = X
Therefore, the Schusters will have to pay $ 2,034 in the sixth month.
