Um could you clarify the equations seperartly. its all one big equation
Hi there
For the first question use the formula of the present value of annuity due
The formula is
Pv=pmt [(1-(1+r/k)^(-n))÷(r/k)]×(1+r/k)
Pv present value?
PMT monthly payment 95
R annual interest rate 0.2379
K compounded monthly 12
N time 7 months
Pv=95×((1−(1+0.2379÷12)^(
−7))÷(0.2379÷12))×(1+0.2379÷12)
=627.45 closed to 637.13 because the question mentioned the minimum monthly payment which is 95 while the exact monthly payment of 637.13
Is 96.47
The second question is the same and easier using the formula of the present value of annuity ordinary
First find the present value by subtracting the amount of down payment From the purchase price
20,640−2,440=18,200
Now find the monthly payment using the formula of
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Solve for pmt
PMT=pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
Pv 18200
R 0.104
K 12
N 5 years
PMT=18,200÷((1−(1+0.104÷12)^(
−12×5))÷(0.104÷12))
=390.29
Total paid amount of monthly payment times number of months in a year times the term of the loan to get
390.29×12×5
=23,417.28
Finally how much you paid including down payment
23,417.28+2,440
=25,857.40. ..answer
Good luck!
Here is an example
0.40,what you do is if it is a decimal you move it to the right twice,until you get 40%,remove the 0 and you have a percent.To move a percent to a decimal,4% you go left twice such as 0.40,and then you are left with 40%
Sorry if it wasn't clear enough but that is my understanding of it.Have a great day.
If you would have to graph x=7, you probably know that this is a vertical line at, well, x=7.
| x | = 7 is nothing more than two vertical lines, namely x=7 or x=-7, as you already wrote down.
| x | = -8 has no (real) solutions, so there is nothing to graph.
Step-by-step explanation:
The formula for probability is favourable outcome/ Total outcome. So the answer might be 7/30.
