3 years ago

5. The graph of a proportional relationship contains the point with coordinates (3,12).

1 answer:

5 0

Give me brainly and ill tell u

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s344n2d4d5 [400]

Answer:

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Step-by-step explanation:

Principal loan amount is the total amount minus down-payment:

$Principal=24000-1000\\\\=23000$

Knowing that $n=12\times 6=72,P=23000, r=7.99\%/12=0.006658$ , the monthly payments can be calculated using the formula:

$M=P[\frac{r(1+r)^n}{(1+r)^n-1}]\\\\=23000\frac{(0.006658(1.006658)^{72}}{1.006658^{72}-1}\\\\=403.15$

Hence, the monthly payment is $403.15

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