For each quilt made, the cost increases by $55. I just took the quiz so it's 100% correct.
The amortization formua I'm familiar with assumes payments are made at the end of the period, so we'll use it for the part after the first payment has already been made.
.. A = 4,000
.. P = 500,000 -4000 = 496,000
.. i = 0.06
.. n = 12
.. t = to be determined
And the formula is
.. A = Pi/(n(1 -(1 +i/n)^(-nt))) . . . . . amortization formula with payments at the end of the period
.. 1 -(1 +i/n)^(-nt) = Pi/(An) . . . . . . rearrange to get "t" factor in numerator
.. 1 -Pi/(An) = (1 +i/n)^(-nt) . . . . . . get "t" factor by itself
.. log(1 -Pi/(An)) = -nt*log(1 +i/n) . . . . use logarithms to make the exponential equation into a linear equation
.. log(1 -Pi/(An))/(-n*log(1 +i/n)) = t . . . . divide by the coefficient of t
.. t = 16.1667 . . . . . years (after the first monthly withdrawal)
The plan will support withdrawals for 16 years and 3 months (195 payments).
(2,infinity)
(the first option)
reason:
the 2 is a ( because that’s what is shown on the number line. infinity is also a ) because infinity can’t have a ]
Does it mean V+25 = 74?
then V will be 49
