Answer:
$526.3 is the monthly payment
Step-by-step explanation:
We use the compound interest formula to calculate the total amount payable on the loan.
Mathematically;
A = P(1 + r/n)^nt
Where A is the amount to pay
P is amount borrowed = 22,000
r is interest rate = 7.25/100 = 0.0725
t is years = 5 years
n is the number of times we compound lee year = 12 times since it’s monthly
Substituting these values, we have
A = 22,000(1 + 0.0725/12)^(12)(5)
A = 22,000(1 + 0.006041666666667)^60
A = $31,578
Monthly payment is total amount/ number of months
There are sixty months in 5 years
So monthly payment is 31578/60 = $526.3
Answer:
Y= -12x + 150
Step-by-step explanation:
1. You do the change in y over the change in x to get the slope.
y1 - y2 / x1 - x2 and you get the slope of -12
2. Making a point-slope form equation
y-y1=m(x-x1)
y-138= -12(x-1)
3. Turning point-slope form equation to slope-intercept
y-138= -12(x-1)
distributive property
y-138=-12x+12
add 138 on both sides
<h2><u>
y= -12x+150</u></h2>
0.873175 rounded to the nearest hundredth is 0.87
Answer:
576
Step-by-step explanation:
16 x 9 x 4 = 576