Answer:
(3)(5) + (1/3)(5) + (3)(1/4) + (1/3)(1/4)
Step-by-step explanation:
(3 1/3)(5 1/4) =
= (3 1/3)(5 + 1/4)
= (3 1/3)(5) + (3 1/3)(1/4)
= (3 + 1/3)(5) + (3 + 1/3)(1/4)
= (3)(5) + (1/3)(5) + (3)(1/4) + (1/3)(1/4)
Use the geometric sequence formula to solve for rate:
an=a1r^(n-1)
6.75=4.5r^(2-1)
6.75=4.5r
6.75/4.5=r
r= 1.5
and if you want to make sure just multiply each number by 1.5 and see if it gets you the next number
4.5 4.5×1.5=6.75 (holds true)
6.75 6.75×1.5=10.125 (holds true)
10.125 10.125×1.5=15.1875 (holds true)
15.1875
1.5 is the multiplicatice rate hope that helps :)
IN finding the interest we need to use the following formula:
Interest= Principal x Rate x Time or I= PRT
Substitute values: I= [$20 + ($10 x $34)] -320 =$40
P= $320
R=?
T=10 months/year
I=PRT
Since R is a missing term, we will solve for R using this formula: R=I/PT
R= [<span>$20 + ($10 x $34)-320] / ($320 x 10 months)
T=10 months</span>÷12 months=0.83<span>
R= ($40)/ $320 X 0.83
R= 40/ 265.6
R=15.06024096</span>
Given:
PV = 13,440
i = 5.86% , compounded monthly
t = 4 years
13,440(0.0586/12))/(1-(1+0.0586/12)^-48= 15,109.44
15,109.44 + 156.60 = 15,266.04
15,266.04 - 13,440.00 = 1,826.04
<span>1,826.04/15,266.04 = 11.96 % Percentage total of Finance Charge of the total loa</span>
