Answer:
Step-by-step explanation:
<u>Sum of n terms formula:</u>
<u>Solving for n</u>
- 3480 = 1/2n(9 + 165)
- 3480 = 87n
- n = 3480/87
- n = 40
Answer:a
Step-by-step explanation:
Answer:
a = $31.23 per month
b = $20.83 per month
c = 249.98 = $249.98 interest charges
= $624-249.98 = 374.02 profit part decrease 8% inc.
d = 35.35%
e = Answer is in the name; basic payment is a contract which means whilst account remains open charges are requested without fail. Should balance be less or on zero, charges are still applied.
Step-by-step explanation:
2500 x 1.2499 = interest only for start month 13 =3124.75
3124.75/ 100 x 1.08 = 8% of this = 249.98 each year.
We only have to divide each by 12 to work out monthly individual charges and subtract to find out payments.
3124.75 - 249.98 = 2874.77 = Total after charges each year.
249.98/12 = 20.83 = monthly charges.
3124.75- 2500 = 624.75 payments each year
624.75/12 = 52.06 month 1 payment before charge
52.06-20.83 =31.23 total minimum payment
2500 + 249.98
Percentage = 200:600 = 1/3 33% + (comparing to ratio 10:25 closer to 40%)
We find ratio 200:600= 33.33 + 49.995/24.75 = 2.02
33+2.02 = 35.35%
