Answer :

sqdancefan

Answer:

$148.21

Step-by-step explanation:

A suitable financial calculator, web site, or spreadsheet can figure this for you. Or you can use the formula given in your reference material (text or web site).

${teks-lihat-gambar} sqdancefan

Answer:

Michelle's monthly payment will be $148.21.

Step-by-step explanation:

The EMI formula is =

[tex]\frac{p\times r\times(1+r)^{n} }{(1+r)^{n}-1}[/tex]

Here,

p = $10125

r = [tex]12.5/12/100=0.010417[/tex]

n = [tex]10\times12=120[/tex]

Putting all these values in the formula we get,

[tex]\frac{10125\times0.010417\times(1+0.010417)^{120} }{(1+0.010417)^{120}-1}[/tex]

=>[tex]\frac{10125\times0.010417\times(1.010417)^{120} }{(1.010417)^{120}-1}[/tex]

=$148.21

So, Michelle's monthly payment will be $148.21.

Other Questions