Present value of annuity PV = P(1 - (1 + r/t)^-nt) / (r/t)
where: p is the monthly payment, r is the APR = 14.12% = 0.1412, t is the number of payments in one year = 12, n is the number of years = 2.
1,120.87 = P(1 - (1 + 0.1412/12)^(-2 x 12)) / (0.1412 / 12)
0.1412(1120.87) = 12P(1 - (1 + 0.1412/12)^-24)
P = 0.1412(1120.87) / 12(1 - (1 + 0.1412/12)^-24) = $53.88
Minimum monthly payment = 3.15% of 1120.87(1 + 0.1412/12) = 0.0315 x 1120.87(1 + 0.1412/12) = $35.72
Therefore, his first payment will be greater than the minimum payment by 53.88 - 35.72 = $18.16
Answer:
A
Pls mark brainliest
Answer:
110 feet/sec
Step-by-step explanation:
75 miles x 5280 feet
= 396000
396000/60 min
=6600
6600/60 secs
=110 feet/second
Answer:
4 3/5
Step-by-step explanation:
6 3/4-2 3/20=x
3/4=15/20
15/20-3/20=12/20=6/10=3/5
6-3=3+3/5=4 3/5
