Mathematics College

Alexei finances her purchase of a $900 television. Her one-year loan has a fixed annual interest rate of 2.5%.
What is Alexei's monthly payment?

Answers

Answer 1

Alexei's monthly payment is approximately $18.56.

Alexei finances her purchase of a $900 television with a one-year loan that has a fixed annual interest rate of 2.5%. To find Alexei's monthly payment, we can use the formula for calculating monthly loan payments.
The formula for calculating monthly loan payments is:
M = (P * r * (1 + r)^n) / ((1 + r)^n - 1)
Where:
M = monthly payment
P = principal loan amount
r = monthly interest rate (annual interest rate divided by 12)
n =number of monthly payments
In this case, the principal loan amount (P) is $900, the annual interest rate (r) is 2.5% (or 0.025 when expressed as a decimal), and the number of monthly payments (n) is 12 (since it is a one-year loan).
First, we need to calculate the monthly interest rate (r) by dividing the annual interest rate by 12: r = 0.025 / 12 = 0.002083.
Next, we can substitute the values into the formula:
M = (900 * 0.002083 * (1 + 0.002083)^12) / ((1 + 0.002083)^12 - 1)
Simplifying the formula gives us:
M = (900 * 0.002083 * 1.002083^12) / (1.002083^12 - 1)
Calculating the values inside the formula gives us:
M = (900 * 0.002083 * 1.026260) / (1.026260 - 1)
Further simplifying the formula gives us:
M = (900 * 0.002083 * 1.026260) / 0.026260
Finally, calculating the expression gives us:
M ≈ 18.56
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Related Questions

The area of a square is 36 sq.cm, then its perimeter is a) 24 cm b) 6 cm c) 144 cm d) 36 cm​

Answers

Answer:

Step-by-step explanation:

3.6*

It is very easy to find the perimeter of a square when its area is given in the question. For that, you only ned to know one fomula. That formula is: Area = side^2

For this particular question, the given value for the area of the square is 36 sq.cm. So, we can solve for the side(s) by substituting the given value in the above mentioned formula.

We get

36 = s^2

Now, we need to get the square root of both sides, which gives us

s = √36 s = 6 cm

Since all the sides of a square are equal in length, the side length is 6 cm. Now to determine the perimeter, we must multiply the side length by 4 (because there are 4 equal sides in a square). That gives us Perimeter = 4 x side length Perimeter = 4 x 6 cm.

Therefore, the perimeter of the square is 24 cm.

Check this out-

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Can someone help me please? ASAP

Answers

Answer:

triangle XYZ is similar to triangle RPQ

scale factor = 2/5

Step-by-step explanation:

Angles X and R are given as congruent.

Angles Z and Q are right angles, so they are congruent.

Then, angles Y and P must be congruent.

The similarity statement is

triangle XYZ is similar to triangle RPQ

To find the scale factor, divide the length of a side of the image by the length of the corresponding side in the original.

10/25 = 2/5

The scale factor is 2/5.

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