Answer:
Monthly payment = $908.99
(A) $125,862.32
Step-by-step explanation:
Given:
Present value = $150,000
Duration, n = 30 years = 30 × 12 = 360 months
Interest = 6.1% compounded monthly
or
Monthly interest, r = = 0.5083%
Now,
Monthly payments can be calculated using the formula
thus,
or
Monthly payment = $908.99
(A) unpaid balance after 10 years will be equal to the payment made in 20 years starting from the end of 10th year
thus,
n = 20 × 12 = 240
Unpaid balance =
or
Unpaid balance =
or
Unpaid balance after 10 years = $125,862.32
21/56=
21:7
-----
56:7
=⅜
=0.375
Answer:
1 2/9 or 1.2222222222222
Step-by-step explanation:
5/9 + 4/6
= 5 * 2/9 * 2 + 4 * 3/6 * 3
= 10/18 + 12/18
= 10+12/18
=22/18
= 22 ÷ 2/18 ÷ 2
= 11/9 = 1 2/9
The value of the painting after 5 years is $44320.36
<h3>Exponential function</h3>
The formula for calculating the exponential function is expressed as:
Given the following parameters
a = 3800
b = 1+r = 1 + 0.026 = 1.026
Substitute the given parameters into the formula
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Hence the value of the painting after 5 years is $44320.36
Learn more on exponential function here: brainly.com/question/12940982