In an installment loan, a lender loans a borrower a principal amount P, on which the borrower will pay a yearly interest rate of i (as a fraction, e.g. a rate of 6% would correspond to i=0.06) for n years. The borrower pays a fixed amount M to the lender q times per year. At the end of the n years, the last payment by the borrower pays off the loan.
After k payments, the amount A still owed is
<span>A = P(1+[i/q])k - Mq([1+(i/q)]k-1)/i,
= (P-Mq/i)(1+[i/q])k + Mq/i.
</span>The amount of the fixed payment is determined by<span>M = Pi/[q(1-[1+(i/q)]-nq)].
</span>The amount of principal that can be paid off in n years is<span>P = M(1-[1+(i/q)]-nq)q/i.
</span>The number of years needed to pay off the loan isn = -log(1-[Pi/(Mq)])/(q log[1+(i/q)]).
The total amount paid by the borrower is Mnq, and the total amount of interest paid is<span>I = Mnq - P.</span>
Basically, unit rates are special ratios with two different terms with two different units.
1. 3 inches of rain in 6 hours
Answer: 3 inches:6 hours
2. 70 miles in 2 hours
Answer: 70 miles:2 hours.
It's easy!
B, because 24/4=6 :))))))
Answer:
the answer is 15
Step-by-step explanation:
density= total population/surface area
density= 375/5^2
density=375/25=15
Answer:
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Step-by-step explanation:
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