shawnnydee21 shawnnydee21

11-07-2021
Mathematics

contestada

What is the maximum amount of a loan you can get if you pay $700 each month at a yearly rate of 0.89% for 10 years?

Respuesta :

samuelonum1 samuelonum1

16-07-2021

Answer:

$785.17

Step-by-step explanation:

Given data

PV is the loan amount

PMT is the monthly payment

i is the interest rate per month in decimal form (interest rate percentage divided by 12)

n is the number of months (term of the loan in months)

PMT =$700

n = 10 years

i = 0.89%

The formula for the loan amount is

Answer Link

Otras preguntas

Heathcliff took the handsomest, but it soon fell lame, and when he discovered it, he said to Hindley, "You must exchange horses with me: I don’t like mine."

What will it cost to tile a rectangular floor measuring 231 feet by by 37 feet if the tile costs $ 14 per square foot?

According to erik erikson, _____ is the stage of intimacy versus isolation. a. young adulthood b. middle adulthood c. adolescence d. late adulthood

What are the boiling point and freezing point of a 3.47 m solution of naphthalene in benzene? (the boiling point and freezing point of benzene are 80.1°c and 5.

Does anyone understand??

A classic example of a large social policy with feedback effects is _____.

in which part of the world is an equinox most different from other days of the year

How much did the United States pay for the Louisiana territory?(The exact amount)

why was the tennis court oath a significant event of the French revolution

The novelist can deal with social or religious beliefs through his characters. a. True b. False