Answer:
Question 1 - 81.74 Pound sterling
Question 2 - 20.28 Pound sterling
Question 3 - 21.72 United States Dollar
Question 4 - 429.38 New Zealand Dollar
Question 5 - 451.28 Euro
Question 6 - 2,936.88 Chinese Yuan
(That's all I got.)
Answer:
12
Step-by-step explanation:
The given geometric series is
We want to determine the first term of this geometric series.
Recall that the explicit formula is
To find the first term, we put n=1 to get:
This gives us:
Therefore the first term is 12
Given Information:
Monthly payment = MP = $1500/4 = $375
Monthly interest rate = r = 25/12 = 2.083%
Required Information:
Present Value = ?
Answer:
Explanation:
n = 10*4
n = 40 monthly payments
The present value is found by
Where r is monthly interest rate.
MP is the monthly payment.
Therefore, $10,110 is the present value of 10 quarterly payments of $1500 each at 25% interest rate compounded each month.