Sara wants new furniture for her apartment. She picked out furniture that costs $3,500. She has $500 to put down on the furniture, and she can obtain a loan at 8% for 3 years for the remainder. Approximately what will her monthly payment be?

her monthly payment will be $93.84

Step-by-step explanation:

The balance to be paid would be

3500 - 500 = $3000

We would apply the periodic interest rate formula which is expressed as

P = a/[{(1+r)^n]-1}/{r(1+r)^n}]

Where

P represents the monthly payments.

a represents the amount of the loan

r represents the annual rate.

n represents number of monthly payments. Therefore

a = $3000

r = 0.08/12 = 0.0067

n = 12 × 3 = 36

Therefore,

P = 3000/[{(1+0.0067)^36]-1}/{0.0067(1+0.0067)^36}]

3000/[{(1.0067)^36]-1}/{0.0067(1.0067)^36}]

P = 3000/{1.272 -1}/[0.0067(1.272)]

P = 3000/(0.272/0.0085224)

P = 3000/31.92

P = $93.84

on a coordinate grid, point a is at (−4.0, −2.4) and point b is at (4.0, −2.4). point b is a reflection of point a across the –axis. input either a lowercase x or i think is the right awnser

step-by-step explanation: