Add half a tenth.
.. 4.9675 +0.05 = 5.0175
Throw away all the digits to the right of the tenths digit.
.. 5.0
Your rounded number is 5.0
The Present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt)/(r/t)
where: P is the monthly payment, r is the annual rate = 7% = 0.07, t is the number of periods in one year = 12 and n is the number of years = 3.
18,000 - 6,098 = P(1 - (1 + 0.07/12)^-(3 x 12)) / (0.07/12)
11,902 = P(1 - (1 + 0.07/12)^-36) / (0.07/12)
P = 0.07(11,902) / 12(1 - (1 + 0.07/12)^-36) = 367.50
Therefore, monthly payment = $367.50
Answer:
d
Step-by-step explanation:
Chuck has a gross pay of $815.70. His gross pay will be reduced by:
- Federal tax of $56;
- Social Security tax that is 6.2% of his gross pay;
- Medicare tax that is 1.45% of his gross pay;
- State tax that is 19% of his federal tax.
Let's count:
1. gross pay of $815.70 - 100%,
Social Security tax of $x - 6.2%.
Then

2. gross pay of $815.70 - 100%,
Medicare tax of $y - 1.45%.
Then

3. Federal tax of $56 - 100%,
State tax $z - 19%.
Then

4. Chuck’s gross pay will be reduced by
