First find the total payments
Total paid
200×30=6,000 (this is the future value)

Second use the formula of the future value of annuity ordinary to find the monthly payment.
The formula is
Fv=pmt [(1+r/k)^(n)-1)÷(r/k)]
We need to solve for pmt
PMT=Fv÷[(1+r/k)^(n)-1)÷(r/k)]
PMT monthly payment?
Fv future value 6000
R interest rate 0.09
K compounded monthly 12
N=kt=12×(30months/12months)=30
PMT=6000÷(((1+0.09÷12)^(30)
−1)÷(0.09÷12))
=179.09 (this is the monthly payment)

Now use the formula of the present value of annuity ordinary to find the amount of his loan.
The formula is
Pv=pmt [(1-(1+r/k)^(-n))÷(r/k)]
Pv present value or the amount of his loan?
PMT monthly payment 179.09
R interest rate 0.09
N 30
K compounded monthly 12
Pv=179.09×((1−(1+0.09÷12)^(
−30))÷(0.09÷12))
=4,795.15

The answer is 4795.15

5 0

3 years ago

At the beginning of an environmental study, a forest covered an area of 1500 km2 . Since then, this area has decreased by 9.8% e

fredd [130]

Answer:

$A(t)=(0.902)^t \cdot 1500$ $[km^2]$

Step-by-step explanation:

In this problem, the initial area of the forest at time t = 0 is

$A_0 = 1500 km^2$

After every year, the area of the forest decreases by 9.8%: this means that the area of the forest every year is (100%-9.8%=90.2%) of the area of the previous year.

So for instance, after 1 year, the area is

$A_1 = A_0 \cdot \frac{90.2}{100}=0.902 A_0$