Someone answer please and thank you! No photos please those are blocked for me!
1 answer:
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Given Information:
Monthly payment = MP = $1500/4 = $375
Monthly interest rate = r = 25/12 = 2.083%
Required Information:
Present Value = ?
Answer:
Explanation:
n = 10*4
n = 40 monthly payments
The present value is found by
Where r is monthly interest rate.
MP is the monthly payment.
Therefore, $10,110 is the present value of 10 quarterly payments of $1500 each at 25% interest rate compounded each month.
Answer:
Step-by-step explanation:
Solve for 'x'.
To solve for 'x', isolate 'x'.
2.8a + 3.2x + 1 = 16.6
Subtract 1 from both sides. {Subtraction property of equality}
2.8a + 3.2x = 16.6 - 1
2.8a + 3.2x = 15.6
Subtract 2.8 a from both sides.
3.2x = 15.6 - 2.8a
Now, divide both sides by 3.2. {Division property of equality}