Pranav ate pizza for dinner on Monday night and had 2/3 of the pizza left over. On Tuesday night, he ate 1/2 of what was left. H
1 answer:
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Step-by-step explanation:
In the picture, I hope that it's a clear solution.
Given Information:
Monthly payment = MP = $1500/4 = $375
Monthly interest rate = r = 25/12 = 2.083%
Required Information:
Present Value = ?
Answer:
Explanation:
n = 10*4
n = 40 monthly payments
The present value is found by
Where r is monthly interest rate.
MP is the monthly payment.
Therefore, $10,110 is the present value of 10 quarterly payments of $1500 each at 25% interest rate compounded each month.