Trevor asks his bank for a loan of $22000 to add a guest
room to his house. His bank offers financing at 7.25%
compounded monthly, for a term of 5 years, payable
monthly. What is Trevor's monthly payment?

$526.3 is the monthly payment

Step-by-step explanation:

We use the compound interest formula to calculate the total amount payable on the loan.

Mathematically;

A = P(1 + r/n)^nt

Where A is the amount to pay

P is amount borrowed = 22,000

r is interest rate = 7.25/100 = 0.0725

t is years = 5 years

n is the number of times we compound lee year = 12 times since it’s monthly

Substituting these values, we have

A = 22,000(1 + 0.0725/12)^(12)(5)

A = 22,000(1 + 0.006041666666667)^60

A = $31,578

Monthly payment is total amount/ number of months

There are sixty months in 5 years

So monthly payment is 31578/60 = $526.3

they go with it happens or they mite give a chance?

step-by-step explanation:

55.44 inches

step-by-step explanation:

part a. assuming a perfectly linear relationship, we can find the slope from the first two data points.

slope = m = (change in rainfall)/(change in years)

= (61.80 -62.33)/(2005 -2004) = -0.53/1 = -0.53

then the point-slope form of the equation of the line can be written as

y = m(x -h) +k . . . . . m = -0.53, (h, k) = (0, 62.33)

y = -0.53x +62.33 . . . x = years after 2004

part b. in 2017, x = 2017 -2004 = 13. then the predicted rainfall is

y = -0.53·13 +62.33 = 55.44 . . inches

the predicted rainfall in 2017 is 55.44 in.