2.40/6 I believe tell me if it is right
9514 1404 393
Answer:
$443.87
Step-by-step explanation:
The amortization formula tells you the payment.
A = P(r/12)/(1 -(1 +r/12)^(-12t))
where P is the loan amount at annual rate r for t years.
A = $29,000(0.0325/12)/(1 -(1 +0.0325/12)^(-72)) = $443.87
The monthly payment will be $443.87.
Slope intercept form
y=mx+b
m=slope
b=where on the graph
