This question can be approached using the present value of annuity formula. The present value of annuity is given by
, where: PV is the present value/amount of the loan, P is the periodic (monthly in this case) payment, r is the APR, t is the number of payments in one year and n is the number of years.
Given that the<span> financing is for a new road bike of $2,500 and that the bike shop offers a 13.5% APR for a 24 month loan.
Thus, PV = $2,500; r = 13.5% = 0.135; t = 12 payments (since payment is made monthly); n = 2 years (i.e. 24 months)
Thus,
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Therefore, his monthly payment is $119.44</span>
Answer:
4 cups of sugar 6 cups of flour. 8 cups of sugar 12 cups of flour.
Step-by-step explanation:
what are the options
Answer:
P = 7.03 - 0.42T
Step-by-step explanation:
Let the price of a ticket be P.
Let the ticket be T.
A linear equation can be defined as an algebraic equation that's typically written for two (2) independent variables, in which each of them has an exponent of one (1) and they make a straight line when plotted on a graph.
Given the following data;
Tax = 0.42
Total bill = $7.03
Translating the word problem into an algebraic expression, we have;
0.42T + P = 7.03
P = 7.03 - 0.42T
Just substitute t=t-2 in given function.
so, p(t-2)=4(t-2)-5