First, graph the "equals" line, then shade in the correct area. There are three steps: Rearrange the equation so "y" is on the left and everything else on the right. or below the line for a "less than" (y< or y≤).
Use the formula of the present value of an annuity ordinary which is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 5500
PMT monthly payment?
R interest rate 0.115
K compounded monthly 12
N time 5years
Solve the formula for PMT
PMT=Pv÷ [(1-(1+r/k)^(-kn))÷(r/k)]
PMT=5,500÷((1−(1+0.115÷12)^(
−12×5))÷(0.115÷12))
=120.95
So the answer is C
Hope it helps!
190mph
I used speed calculator with advanced mode
HTTP://www.omnicalculator.com/everyday-life/speed
