Answer:
44
Step-by-step explanation:
pay for 40 hours: 7.50 * 40= 300
pay for 1 hour of overtime pay: 1.5 * 7.5= 11.25 per hour
11.25 * 4= 45
45 + 300= 345
40 + 4= 44
He actually borrowed P=21349-3000=18349 (present value)
Assume the monthly interest is i.
then future value due to loan:
F1=P(1+i)^n=18349(1+i)^(5*12)=18349(1+i)^60
future value from monthly payment of A=352
F2=A((1+i)^n-1)/i=352((1+i)^60-1)/i
Since F1=F2 for the same loan, we have
18349(1+i)^60=352((1+i)^60-1)/i
Simplify notation by defining R=1+i, then
18349(R^60)-352(R^60-1)/(R-1)=0
Simplify further by multiplication by (R-1)
f(R)=18349*R^60*(R-1)-352(R^60-1)=0
Solve for R by trial and error, or by iteration to get R=1.004732
The APR is therefore
12*(1.004732-1)=0.056784, or 5.678% approx.
Step-by-step explanation:
(1,5) (5,8)
x,y. x,y
Formula: <u>y2-y1</u>
x2-x1
so...
<u>8-5</u><u>=</u> <u>3</u>
5-1 = 4
so... <u>3</u>
4
:)
Step-by-step explanation:
185 is to 14.8 as x is to 18.5
185/14.8 = x/18.5
x = 185(18.5)/14.8
x = $231.25