The question is an annuity question with the present value of the annuity given.
The
present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt) /
(r/t) where PV = $61,600; r = interest rate = 9.84% = 0.0984; t = number
of payments in a year = 6; n = number of years = 11 years and P is the
periodic payment.
61600 = P(1 - (1 + 0.0984/6)^-(11 x 6)) / (0.0984 / 6)
61600 = P(1 - (1 + 0.0164)^-66) / 0.0164
61600 x 0.0164 = P(1 - (1.0164)^-66)
1010.24 = P(1 - 0.341769) = 0.658231P
P = 1010.24 / 0.658231 = 1534.78
Thus, Niki pays $1,534.78 every two months for eleven years.
The total payment made by Niki = 11 x 6 x 1,534.78 = $101,295.48
Therefore, interest paid by Niki = $101,295.48 - $61,600 = $39,695.48
Answer:
7)
Step-by-step explanation:
The pattern is: add two more than you did before: starting from 2.
It would be:
1, 3, 7, 13, 21, 31, 43, 57
+2 +4 +6 +8 +10 +12 +14
Now use this to answer the questions.
Hope this helped!
Have a nice day!
(it would be nice if you gave me brainliest)
Thx :)
The rule for the linear graph is y=mx
Answer:
A=πr2=π·212≈1385.44236cm²
Answer:
4a^2b-8ab^2
Step-by-step explanation:
