<span>The owner of a automobile repair center purchased new electronic diagnostic equipment for $12000. He paid 10 pERcent down and then paid 60 pAYMENTS monthly of $203.81.
Net loan, P=12000*0.9=10800
Monthly payment, A=203.81
Number of payments, n=60
Let i=APR
A=P(i/12*(1+i/12)^n)/((1+i/12)^n-1)
Substituting values
203.81=10800(i/12*(1+i/12)^60)/((1+i/12)^n-1)
=>
12*203.81/10800=i(1+i/12)^60/((1+i/12)^60-1)
To solve for i, we form the iterative equation:
</span>(1+i/12)^60=(12*203.81/10800)/i*((1+i/12)^60-1)
i=12*(12*203.81/10800*((1+i/12)^60-1)/i)^(1/60-1)
try i=0.05,
f(0.05)=0.05
Therefore the APR is 5%
Answer:
t greater than or equal to 9.25
And
t less than or equal to 10.75
Step-by-step explanation:
Answer:
9/20
Step-by-step explanation:
Add them:
30+45+25= 100ml
Apple juice = 45ml
45/100
9/20
Hope this helps!
I think the answer is n-20- first choice.
