Mathematics, 28.06.2019 13:50 coollid876
After the fifth month, the borrower decides to prepay the whole loan. under a standard amortization plan the borrower would have paid $198.28 in cumulative interest. however, using the rule of 78 a lender would calculate the fraction of the total interest based on two series: {(n+35)+(n+34)+(n+33)+(n+32)+(n+31) } {(n)+(n+1)++(n+35)} if you add 36, 35, 34, 33, and 32, the sum is . if you sum the numbers from 1 to 36, the sum is . the fraction (the first sum / the total sum) to the nearest tenth = %. the lender will multiply this fraction by the total interest. the cumulative interest = (the percentage calculated above) x ($808.13) = $. the difference between the amount paid under a standard amortization plan and the amount paid under a rule of 78 plan is: $.
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Mathematics, 22.06.2019 00:30
What is the sum of the geometric series in which a1 = 7, r = 3, and an = 1,701? hint: cap s sub n equals start fraction a sub one left parenthesis one minus r to the power of n end power right parenthesis over one minus r end fraction comma r โ 1, where a1 is the first term and r is the common ratio
Answers: 1
After the fifth month, the borrower decides to prepay the whole loan. under a standard amortization...
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