The correct answer would be 128.
Answer: her monthly payments would be $267
Step-by-step explanation:
We would apply the periodic interest rate formula which is expressed as
P = a/[{(1+r)^n]-1}/{r(1+r)^n}]
Where
P represents the monthly payments.
a represents the amount of the loan
r represents the annual rate.
n represents number of monthly payments. Therefore
a = $12000
r = 0.12/12 = 0.01
n = 12 × 5 = 60
Therefore,
P = 12000/[{(1+0.01)^60]-1}/{0.01(1+0.01)^60}]
12000/[{(1.01)^60]-1}/{0.01(1.01)^60}]
P = 12000/{1.817 -1}/[0.01(1.817)]
P = 12000/(0.817/0.01817)
P = 12000/44.96
P = $267
Answer: 4%
Step-by-step explanation: 50 x 2 = 100
2x2=4 4/100 or 4%
The answer is <u><em>0.76075</em></u>!
<em>Hope this helps!</em>
