Can someone help me with this question: What is the 40th term of these sequences below. 13, 26, 39, 52,...... 6, 12, 18, 24,....
1 answer:
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Answer:
$48.54
Explanation:
We must express the interest rate on a monthly basis.
i = 8 %/yr = 0.6667 %/mo = 0.006 667
A = $4000
n = 120 mo
P = 48.531
The banks round up the numbers, so Seki’s monthly payment is $48.54.