Answer:
<h2><u><em>
254 + x</em></u></h2>
Step-by-step explanation:
(9-5+X)+ (39+211)
whats the Solution?
(9 - 5 + x) + (39 + 211) =
4 + x + 39 + 211 =
254 + x
Answer:
0.6666
Step-by-step explanation:
Answer:
The monthly payment is $361.72.
Step-by-step explanation:
Given : The total interest paid on a 3-year loan at 6% interest compounded monthly is $1085.16.
To find : Determine the monthly payment for the loan?
Solution :
The total interest paid on a 3-year loan compounded monthly is $1085.16.
i.e.
....(1)
Where, M is the monthly payment
P is the principal.
3 year loan =
months.
We know, The monthly payment formula is
![M=P\times\frac{i}{1-(1+i)^{-t}}](https://tex.z-dn.net/?f=M%3DP%5Ctimes%5Cfrac%7Bi%7D%7B1-%281%2Bi%29%5E%7B-t%7D%7D)
Here, The value of P is ![P=\frac{(1-(1+i)^{-t})M}{i}](https://tex.z-dn.net/?f=P%3D%5Cfrac%7B%281-%281%2Bi%29%5E%7B-t%7D%29M%7D%7Bi%7D)
Where, i is the interest rate monthly ![i=\frac{6}{1200}=0.005](https://tex.z-dn.net/?f=i%3D%5Cfrac%7B6%7D%7B1200%7D%3D0.005)
t is the time monthly
months
Substitute in (1),
![36M-\frac{(1-(1+i)^{-t})M}{i}=1085.16](https://tex.z-dn.net/?f=36M-%5Cfrac%7B%281-%281%2Bi%29%5E%7B-t%7D%29M%7D%7Bi%7D%3D1085.16)
![M(36-\frac{(1-(1+i)^{-t})}{i})=1085.16](https://tex.z-dn.net/?f=M%2836-%5Cfrac%7B%281-%281%2Bi%29%5E%7B-t%7D%29%7D%7Bi%7D%29%3D1085.16)
![M(36-\frac{(1-(1+0.005)^{-36})}{0.005})=1085.16](https://tex.z-dn.net/?f=M%2836-%5Cfrac%7B%281-%281%2B0.005%29%5E%7B-36%7D%29%7D%7B0.005%7D%29%3D1085.16)
Therefore, The monthly payment is $361.72.