Mathematics, 23.07.2019 02:00 s732609
Brady took out a loan for $2800 at an 18% apr, compounded monthly, to buy a computer. if he will make monthly payments of $201.50 to pay off the loan, how many total payments will he have to make?
Answers: 1
![M= P[\frac{r}{1-(1+r)^-^n}]](/tpl/images/0121/7501/36971.png)
Monthly payment, Â 
Loan amount, Â 
Annual interest rate and 
total number of periods.
![201.50=2800[\frac{0.015}{1-(1+0.015)^-^n}]\\ \\ 201.50=\frac{42}{1-(1.015)^-^n}\\ \\ 1-(1.015)^-^n=\frac{42}{201.50}\\ \\ 1-(1.015)^-^n=0.208\\ \\ (1.015)^-^n =1-0.208\\ \\ (1.015)^-^n=0.792\\ \\ log(1.015)^-^n=log(0.792)\\ \\ -n*log(1.015)=log(0.792)\\ \\ -n=\frac{log(0.792)}{log(1.015)}=-15.66\\ \\ n=15.66 \approx 16](/tpl/images/0121/7501/7df2a.png)
Another question on Mathematics
Mathematics, 21.06.2019 14:00
Which addition property is being illustrated below? (type commutative or associative) (6 + 7) + 1 = 6 + (7 + 1)
Answers: 1
Mathematics, 21.06.2019 17:30
If the measure of angle 1 is 110 degrees and the measure of angle 3 is (2 x+10 degree), what is the value of x?
Answers: 2
Mathematics, 21.06.2019 18:30
Jamie went to home depot.she bought 25 bags of soil that cost $9 per bag.she bought 15 pots at $8 each,and she bought 23 bags of pebbles at $15 each.she used a coupon that gave her $5 off for every 100 dollars she spent.how much did jame pay at the end?
Answers: 1
Mathematics, 21.06.2019 20:30
What is the length of the segment, endpoints of which are intersections of parabolas y=x2? 11 4 x? 7 4 and y=? 7 8 x2+x+ 31 8 ?
Answers: 2
You know the right answer?
Brady took out a loan for $2800 at an 18% apr, compounded monthly, to buy a computer. if he will mak...
Questions
Mathematics, 11.12.2019 01:31
Mathematics, 11.12.2019 01:31
Arts, 11.12.2019 01:31
Mathematics, 11.12.2019 01:31
English, 11.12.2019 01:31
Chemistry, 11.12.2019 01:31
