Answer:
- payment: $413.93
- total repaid: $74,507.40
- interest: $22,507.40
Step-by-step explanation:
(a) The monthly payment A on principal P at monthly rate r for n months can be computed using ...
A = Pr/(1 -(1+r)^-n)
For P=$52000, r = .051/12 = 0.00425, n = 12*15 = 180, the payment is ...
A = $52000·0.00425/(1 -1.00425^-180) ≈ $413.93
(b) The total of 180 payments is ...
180 · $413.93 = $74,507.40
(c) The difference from the principal is the interest paid:
$74,507.40 -52,000 = $22,507.40
3030.33
I’m pretty sure that’s the correct answer lol
Answer: -0.4n-13
hope it helped don't forget to drop a heart
Step-by-step explanation:
The distribution property is the best justification.
Well, you would need to compensate for the cost of the banquet hall adding an addition $700 to the goal of $1000.
If you need to raise at least $1700 you can write this inequality.
Let x represent the number of tickets sold.
15x≥1700
x≥ 114 (rounded to the nearest whole number because you can't sell half a ticket)
So, at least 114 tickets need to be sold.