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July 22, 2014

July 22, 2014

Posted by **Geraldine** on Friday, June 15, 2012 at 9:25am.

- algebra application -
**Henry**, Saturday, June 16, 2012 at 3:58pmP = (Po*r*t) / (1-(1+r)^-t).

r = 12% / 100% = 0.12 = APR expressed as a decimal.

Po = $3900.

t = 2 yrs.

Plug the above values into the given Eq

and get:

P = $4406.08.

Int. = P-Po = 4406.08 - 3900 = $506.08.

Monthly = P/t=4406.08 / 24mo.= $183.59.

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