Answer: $12,000
Step-by-step explanation:
Miguel makes 6% on every sale he makes and wants to make $600 in commissions.
The amount he needs to sell is therefore the amount that has $600 as 5% of it.
Assume the amount of insurance needed is x.
x * 5% = 600
x = 600 / 5%
x = $12,000
a) For principal amount P, interest rate r, and number of years t, the amortization formula for the monthly payment A is ...
... A = P(r/12)/(1 -(1 +r/12)^(-12t))
... A = 22500·(0.06/12)/(1 -(1 +0.06/12)^(-12·20)) ≈ 161.20
The monthly payment is $161.20.
b) After 240 payments, the amount repaid is
... $161.20·240 = $38,688
c) (22500/38688)·100% = 58.2% is paid toward principal
The remaining amount, 41.8% is paid toward interest.
Decuct 30 minutes from 10:08 = 09:38
We know that f(x) = 7x + 8. So, take the derivative of this function with respect to x.
This gives
f'(x) = 7
Now, you probably realized that the x value disappeared. This means that no matter what value of x you use, the derivative of this function is always going to be 7, even at x = 5. That is, the rate of change of this function is always going to be a rate of 7.
Answer:
x=y+6
Step-by-step explanation: