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!
So whats the answer. please help me I got a test of this
Answer:
-1.66666666667 yards
Step-by-step explanation:
15x+12=6x-3
subtract 6x on both sides
9x+12=-3
subtract 12 on both sides
9x=-15
x=-1.6666666666667
