Okay so first I am taking it that you have to subtract 24k from the 104k which brings it to 80,000.
I am also taking it that the 8.5% is suppose to be in decimal form which makes it .085%
Take the 80,000 and use the monthly payment formula, which is really easy to use.
Monthly payment should be 644.18
The numerator and denominator can be divided by 4 to get 12/25.
48 / 4 = 12
100 / 4 = 25
Answer:
k=4
Step-by-step explanation:
First, we can subtract 3k on both sides. It is ultimately easier to start by subtracting the term with a variable. This would result in 45=5k+25. Then, we can subtract 25 on both sides to get closer to isolating k. This becomes 20=5k. We can then divide by 5 on both sides. This means that k=4.
