<h3>
Answer: $189,383.96</h3>
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Explanation:
- r = 0.02 = decimal form of 2% annual interest
- i = monthly interest rate
- i = r/12 = 0.02/12 = (2/100)/12 = 1/600.
- n = number of months = 12*30 = 360
- P = monthly payment = 700
We'll plug those items into the formula below.
L = loan amount
L = P*( (1+i)^n - 1)/( i*(1+i)^n )
L = 700*( (1+1/600)^360 - 1 )/( 1/600*(1+1/600)^360 )
L = 189,383.961539639
L = 189,383.96
The couple can afford to borrow at most $189,383.96
Answer:
-6
Step-by-step explanation:
The answer to your question is 7-15
You can plug you equations into desmos
Answer:
45 million?
Step-by-step explanation:
hope this helps
