Which set it ordered pairs represent a function
1 answer:
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Answer:
The money after 3 years is $5819.8735
Step-by-step explanation:
We are given
monthly payment =$75
so, P=75
annuity that earns 48% APR
so, r=48%
Since, it is compounded monthly
so,
%
i=0.04
now, we can use annuity formula
where
FV is future value
now, we can plug values
we get
The money after 3 years is $5819.8735
keeping in mind that 4 months is not even a year, since there are 12 months in a year, 4 months is then 4/12 years.
let's assume is simple interest.