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.
To round to the nearest ten million, you look at the millions digit. In this case, the millions digit is 1, which is less than 5, so you round the number down to 4,320,000,000.
Answer:
its 6 7/8
Step-by-step explanation:
Answer:
FIND THE HOLE SIZE IN THIS CASE THERE IS NO SIZE SO ZERO IS THE AWNSER
pls can i have brainliest
Answer:
B, D, E
Step-by-step explanation:
Use a graphing calculator.
