49/56 in it's simplest form is 7/8.
Answer:
The money after 3 years is $5819.8735
Step-by-step explanation:
We are given
monthly payment =$75
so, P=75
annuity that earns 48% APR
so, r=48%
Since, it is compounded monthly
so,
%
i=0.04

now, we can use annuity formula
![FV=P[\frac{(1+i)^n-1}{i} ]](https://tex.z-dn.net/?f=FV%3DP%5B%5Cfrac%7B%281%2Bi%29%5En-1%7D%7Bi%7D%20%5D)
where
FV is future value
now, we can plug values
![FV=75[\frac{(1+0.04)^{36}-1}{0.04} ]](https://tex.z-dn.net/?f=FV%3D75%5B%5Cfrac%7B%281%2B0.04%29%5E%7B36%7D-1%7D%7B0.04%7D%20%5D)
we get

The money after 3 years is $5819.8735
Answer:
1000
Step-by-step explanation:
X | Y
-2 | 9
-1 | 6
0 | 3
1 | 0
2 | -3
Lets have T be the TOTAL reduction
t = 7 * 0.02
t = 0.14
My answer here.