check the picture below.
namely, which of those intervals has the steepest slope, recall slope = average rate of change.
now, from the picture, notice, those two there are the steepest, the other three are leaning too much to the "ground".
so, from those two, which is the steepest anyway? let's check their slope.
Answer:
$919.98
Step-by-step explanation:
To solve using a financial calculator do
N=8
I/Y=10
PMT=85
FV=1000
CMPT PV get 919.98
To do by hand find the present value of the interst payments
85*(1-(1/1.1)^8)
which is 453.4687
Find the present value of the final ballon payment
1000*(1/1.1)^8
which is 466.507
take the sum
466.507+453.4678= 919.98
Is there any graphs ? can you mark me as brainlist :)?
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