Answer:
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In an installment loan, a lender loans a borrower a principal amount P, on which the borrower will pay a yearly interest rate of i (as a fraction, e.g. a rate of 6% would correspond to i=0.06) for n years. The borrower pays a fixed amount M to the lender q times per year. At the end of the n years, the last payment by the borrower pays off the loan.
After k payments, the amount A still owed is
<span>A = P(1+[i/q])k - Mq([1+(i/q)]k-1)/i,
= (P-Mq/i)(1+[i/q])k + Mq/i.
</span>The amount of the fixed payment is determined by<span>M = Pi/[q(1-[1+(i/q)]-nq)].
</span>The amount of principal that can be paid off in n years is<span>P = M(1-[1+(i/q)]-nq)q/i.
</span>The number of years needed to pay off the loan isn = -log(1-[Pi/(Mq)])/(q log[1+(i/q)]).
The total amount paid by the borrower is Mnq, and the total amount of interest paid is<span>I = Mnq - P.</span>
Answer:
1: 9 questions incorrect and 41 correct
2: There are a total of 35 students. 21 girls and 14 boys.
Answer:
The answer is 743.4 square inches
Step-by-step explanation:
1. find the length- 2 x 40=80 cm
2. find the width- 1.5 x 40= 60cm
3. find area (Length x width)- 80 x 60= 4800 square cm
4. find length but in inches- 1in=2.54cm length=80/2.54 = 31.5 inches
5. find width but in inches- width= 60/2.54= 23.6 inches
6. Find area(length x width)- 31.5 x 23.6= 743.4 square inches
