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irga5000 [103]
3 years ago
6

Use the monthly payment formula to find the monthly payment for a $1,000, one year

Mathematics
1 answer:
wlad13 [49]3 years ago
6 0
<h3>Answer:  89,58 $ </h3>

Step-by-step explanation:

The formula :

\displaystyle \rm S=A\cdot \left (1+\frac{N}{100}  \right  )^{\big r}

where r is years ; N is the percentage by which we increase the price ; A is the original price

In our case :

\rm r=1 \ \ ;  \ \  A=100 \ \ ;   \  \  N=7,5\% \\\\ S=1000\cdot \bigg(  1+\dfrac{7,5}{100} \bigg)^1=1000\cdot 1,075=\boxed{1075\$}

Then the monthly salary is equal to:

\dfrac{1075}{12} \approx 89,58 \$

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