Original price $24.99
Now it's on sale with 30% off
So the price now will be 24.99 - 30% of 24.99
Or we can say that it will be 70% of the initial price
So:
24,99 . 70% = 24,99 . 70/100 = 17,493
The price will be $17,493
So you're initial equation is
. Well since
, plug in 24 for the 1 in
. So
, and
so
.
Just answering for a task
The group of values plugged into the TVM Solver of a graphing calculator that will return the amount of a 25-year loan with an APR of 16.8%, that is paid off with monthly payments of $340 is:
A. N=300; 1%-1.4; PV = PMT=-340; FV=0; P/Y=12; C/Y=12;PMT:END
What is monthly compounding?
Monthly compounding in this case the number of payments would be the number of monthly payments in 25 years, which is 300 monthly payments(i.e. 12*25=300), this means that options B and D are obviously incorrect because number of payments, N is given as 25( 25 years instead of 300 months)
What is monthly interest rate?
The monthly interest is the annual interest rate of 16.8% divided by 12, which is 1.40%, in short, option C is also wrong because I/Y(monthly interest rate) was as shown as an interest rate of 16.8% instead of 1.40%
Overall, the correct option is A, because the number of payments and interest rate were stated correctly, unlike other options that were incorrectly written
Find out about more about TVM Solver notations on:brainly.com/question/14586708
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