Get total lengths by multiplying:
10 x 12.6 = 126
6 x 16.1 = 96.6
Add the total lengths together and divide by 16:
126 + 96.6 = 222.6
222.6 / 16 = 13.9125
Rounded to 2 decimal places = 13.91
answer: 13.91
(54.3+56.1+n)/3 = 55
54.3+56.1+n = 165
54.6 = n
Answer:
The balance be after he has made exactly half of his monthly payments is $56881.4.
Step-by-step explanation:
Given : Dean took out a 10-year loan for $40,000 at an APR of 4% compounded monthly.
To find : What will his balance be after he has made exactly half of his monthly payments?
Solution :
Formula of monthly payment ,
Discount factor
Where, Amount = $40,000
Rate r= 4% compounded monthly
Time = 10 years
Now, put all the values we get,
Half of the monthly payment is $807.345
Payment for 10 years is
The balance is $96881.4-$40000=$56881.4
Therefore, The balance be after he has made exactly half of his monthly payments is $56881.4.