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 Oct 11, 2018
 #1
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The answer is "B". Can you calculate it using the formula given to you? Try it.

 Oct 11, 2018
 #2
avatar+96373 
+1

A   =  P  [ (1 + r)^n  - 1 ]

         _______________     

          r  ( 1 + r)^n

 

Where P  = 725    r  = .0825/12  = 11/1600    n  = 48 months

 

So  we  have

 

A = 725 [ (1 + 11/1600)^(48)  - 1 ]

      __________________________    ≈  29,555.11  ⇒  "B" seems the closest

         [ (11/1600) * ( 1 + 11/1600)^48

 

 

cool cool cool

 Oct 11, 2018

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