Using it's formula, considering a loan of $10,000, the regular monthly payments required to pay off the loan will be of $221.3.
<h3>What is the monthly payment formula?</h3>
It is given by:
In which:
- n is the number of payments.
In this problem, we have that the parameters are given as follows:
P = 10,000, r = 0.0299, n = 4 x 12 = 48.
Then:
r/12 = 0.0299/12 = 0.00249167.
Hence, the monthly payment will be given by:
A = 221.3.
More can be learned about the monthly payment formula at brainly.com/question/22846480
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It’s A. 9 the equation is y=9x+0
Answer:13 hours
Step-by-step explanation: remember you are averaging so you add the two numbers and divide by the number of numbers, 2. So, 15+11=26, 16 divided by 2=13
Answer:
Step-by-step explanation:
From the given information:
Let assume that the invested amount in the investment paying 8% interest is a
Now, since the total amount invested = $3000.
Then, the amount invested in the investment that will be paying 10% interest can be represented as:
= $(3000-a)
Income earned on $a that is being invested in 8% interest = $a × 8/100 = $0.08a
Income earned from $(3000-a) in the 10% investment is:
= $(3000-a)× 10/100
= $(300 - 0.1a)
Since total income of the two investment = $290;
Then;
0.08a + (300 - 0.1a) = 290
0.08a + 300 - 0.1a = 20-
300 - 0.02a = 290
-0.02a = -10
a = -10/-0.02
x = 500
Thus;
the amount invested in an investment paying 8% interest = $500
the amount invested in an investment paying 10% interest = $(3000 - 500) = $2500
Answer:
1553/1250 its already in its simplified form
