Answer:
10%
Step-by-step explanation:
Answer:
n = 4
Step-by-step explanation:
Given
10n + 2 = 7n + 14
Collect terms in n on the left side and numbers on the right side
Subtract 7n from both sides
3n + 2 = 14 ( subtract 2 from both sides )
3n = 12 ( divide both sides by 3 )
n = 4
The Present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt)/(r/t)
where: P is the monthly payment, r is the annual rate = 7% = 0.07, t is the number of periods in one year = 12 and n is the number of years = 3.
18,000 - 6,098 = P(1 - (1 + 0.07/12)^-(3 x 12)) / (0.07/12)
11,902 = P(1 - (1 + 0.07/12)^-36) / (0.07/12)
P = 0.07(11,902) / 12(1 - (1 + 0.07/12)^-36) = 367.50
Therefore, monthly payment = $367.50
Let the third side = x.
The sum of any two sides must be greater than the third side
14 + 9 > x
23 > x
14 + x > 9
x > -5
9 + x > 14
x > 5
So 5 < x < 23
