17/20 is equivalent to 0.85. To get this answer, one must divide 17 by 20 using long division.
Present Value of an annuity is given by the formular
PV = P(1 - (1 + r)^-n)/r; where PV = $28,000, r = 0.081/12 = 0.00675, n = 35 and P is the periodic (monthly) payment.
P = PVr/(1 - (1 + r)^-n) = (28,000 x 0.00675)/(1 - (1 + 0.00675)^-35) = 189/0.2098 = 900.90
Therefore, the monthly payment is $900.90
To compare two fraction you need to rewrite the fractions so they have a common denominator.
1/2 should have been rewritten as 4/8
The answer is:
D. The fraction 1/2 should have been rewritten as 4/8.
Answer: 15
Step by step explanation:
