Answer:
F = $13,802.31
she can finance $13,802.31 with this loan.
Step-by-step explanation:
Given;
Rate r = 7% = 0.07
Time t = 4 years
Payment per month MP = $250
Number of months per year n = 12
This can be solved using compound interest for future value series formula;
F = future value
F = MP(((1 + r/n)^(nt) - 1)/(r/n))
Substituting the given values, we have;
F = $250(((1 + 0.07/12)^(12×4) - 1)/(0.07/12))
F = $13,802.31
Answer:
the answer will be verified by an expert. Until then, talk to a tutor.
Use the arithmetic operations to get the variable x on one side of the equation and everything else on the opposite side.
If something is being is being done to a variable, we undo that operation by using the inverse of that operation.
For example, if 10 is being added to x, we use the inverse of addition or subtraction.
18 - 7x = -20.5
We variable x is being multiplied by 7 and is subtracting 18. We need to undo all those operations.
18 - 7x = -20.5
-7x = -38.5
Now the variable is only being multiplied by -7. Reverse the operation.
-7x = -38.5
x = 5.5
So, x is equal to 5.5.
