8/10 is larger
I hope this helps!
Step-by-step explanation:
if we simply add 1 to numerator and denominator (top and bottom of the fraction), we get a fraction that is bigger than the original fraction and smaller than the fraction that added 2 to numerator and denominator.
so, my choice would be
4/5
5/6
6/7
7/8
8/9
9/10
10/11
a) For principal amount P, interest rate r, and number of years t, the amortization formula for the monthly payment A is ...
... A = P(r/12)/(1 -(1 +r/12)^(-12t))
... A = 22500·(0.06/12)/(1 -(1 +0.06/12)^(-12·20)) ≈ 161.20
The monthly payment is $161.20.
b) After 240 payments, the amount repaid is
... $161.20·240 = $38,688
c) (22500/38688)·100% = 58.2% is paid toward principal
The remaining amount, 41.8% is paid toward interest.
Answer:
12
Step-by-step explanation: