The applicable formula is
A = P(r/12)/(1 -(1+r/12)^(-12n))
where P is the principal amount,
r is the annual interest rate (compounded monthly), and
n is the number of years.
Using the formula, we find
A = 84,400*(0.04884/12)/(1 -(1+0.04884/12)^(-12*15))
= 84,400*0.00407/(1 -1.00407^-180)
= 343.508/0.518627
≈ 662.34
The monthly payment on a mortgage of $84,400 for 15 years at 4.884% will be
$662.34
Answer:
9.1
Step-by-step explanation:
cus I seen it on usatesprep
$12,500 x 5% = $625.
$12,500 + $625 = $13,125.
<span>The hypothesis is : If Robbie wants to save money to buy a car. Conclusion : he must get a part-time job.
Robbie already started the new job yesteday. So, that makes the hypothesis true.
So, the conclusion would be : Robbie will save money to buy a car/ Robbie will buy a car.</span>
