Solve the problem using the formula below. given a note for $1,000, with 24 equal monthly payments, and a 7.5% true annual interest rate is charged. what is the principal plus interest payment? $

The usual formula for finding the amount A of a monthly payment on principal amount P with annual interest rate r over t years is

... A = Pr/(12·(1 -(1+r/12)^(-12t)))

Filling in P=1000, r=.075, t=2, you get

... A = 45.00

The montly payment is $45.00.

The given formula looks nothing like one used to compute the payment, nor is it anything like a formula used to compute interest on such a loan. We cannot figure out how to use it (or if it is even applicable) without knowing the definitions of the variables involved.

part 1 answer = 8

part 2 answer = 72

step-by-step explanation:

part 1 explanation = add all of the numbers, then divide by how many numbers you have. so, 200/25 = 8.

part 2 explanation = not gonna lie, this is hard to explain, so just google how to do it.

answer: 1, 3 and 5 are correct

step-by-step explanation: