He actually borrowed P=21349-3000=18349 (present value)
Assume the monthly interest is i.
then future value due to loan:
F1=P(1+i)^n=18349(1+i)^(5*12)=18349(1+i)^60
future value from monthly payment of A=352
F2=A((1+i)^n-1)/i=352((1+i)^60-1)/i
Since F1=F2 for the same loan, we have
18349(1+i)^60=352((1+i)^60-1)/i
Simplify notation by defining R=1+i, then
18349(R^60)-352(R^60-1)/(R-1)=0
Simplify further by multiplication by (R-1)
f(R)=18349*R^60*(R-1)-352(R^60-1)=0
Solve for R by trial and error, or by iteration to get R=1.004732
The APR is therefore
12*(1.004732-1)=0.056784, or 5.678% approx.
Hello! Its really simple 16 ounces equal 1 pound!
Answer:
The sequence is arithmetic with a common difference of -10
Step-by-step explanation:
From the question, we want to determine if the sequence is arithmetic or geometric
From the question
f(1) = 5
f(2) = -5
f(3) = -15
Mathematically for the common difference;
f(3) - f(2) = f(2) - f(1)
Since;
-15-(-5) = -5-5
-10 = -10
Since the common difference here is same , then the sequence is arithmetic with a common difference of -10
The answer is a I believe
