Fill in the blanks.In the formula, shown below,PMT=PA[¹-(₁-3) ]-ntIn the formula, shown above,is the regular payment amount required to repay a loan ofis the regular payment amount required to repay a loan ofPrtPMTndollars paid,dollars paidDtimes per year overtimes per year overyears at an annual interest rateyears at an annual interest rate ▼

In the given formula PMT = monthly payment of a loan P = loan amount r = interest rate t = time in…

Answered: In the formula, shown below, PMT= -nt7…

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Exponential And Logarithmic Functions

Section5.1: Exponential Functions And Their Graphs

Problem 5E

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SalaryA Colleague of the teacher in Exercise 29, hired at the same time, makes $35,000 in her first year and gets a $1200 raise each year. (a) What is her salary Anin her nth year at this school? (b) Find her salary in her eighth year at this school, and compare it to the salary of the teacher in Exercise 29 in his eighth year.
The annual percentage yield (APY) of an investmentaccount is a representation ofthe actual interest rateearned on a compounding account. It is based on acompounding period of one year. Show that the APYof an account that compounds monthly can be foundwith the formula APY=(1+r12)121.
Fill in the blank/s: A sequence of equal payments made at equal time periods is called a/an __________ . Its value, A, after t years is given by the formula, A =P[(1 + r/n)nt - 1]/(r/n). where ______ is the deposit made at the end of eachcompounding period at ____________ percent annual interest compounded ______________ times per year.
Assume that all interest is simple interest. A local miniature golf course owner must recarpet his fairways and replace the golf clubs his customers use. A bank will lend the owner the necessary $4500 at 7% interest over 78 months. A savings and loan company will lend the owner $4500 at 8% interest for 54 months. Which loan will be less expensive for the golf owner to assume? The total interest paid for the bank loan is $ .The total interest paid for the savings and loan company is $ .The loan from the bank is ▼(Choose one) expensive than the loan from the savings and loan company.
Cooling Air As a parcel of air rises (for example, as it ispushed over a mountain), it cools at the dry adiabatic lapserate of 5.5°F per 1000 feet until it reaches its dew point.If the ground temperature is 67°F, write a formula for thesequence of temperatures, {Tn}, of a parcel of air that hasrisen n thousand feet. What is the temperature of a parcelof air if it has risen 5000 feet?Source: National Aeronautics and Space Administration
Carlos invested $7,000 in a money market mutual fund that pays interest on a daily basis. The balance in his account at the end of 8 mo (245 days) was $7,432. Find the effective rate at which Carlos's account earned interest over this period (assume a 365-day year).
You deposit $1000 in a bank that pays 6% annual interest.Approximately how much your balance would be after 10 years? (in Dollars, ignore the cents).Use the Compute Interest (closed) formula.Y= P0 . (1 + r) xwhere Y is your balance after x years in $.P0 is your initial deposit in $.r is the annual interest rate in decimal. $1790 $2549 $1995
The cost C (in dollars) to rent an apartment is $850 per month, plus a $450 nonrefundable security deposit, plus a $250 deposit for each dog or cat. Write a formula for the total cost to rent an apartment for m months with n cats/dogs
Investments What annual rate of interest would you have toearn on an investment of $3500 to ensure receiving $262.50interest after 1 year?
A loan of $100,000 is required to buy your new home. The bank offers a choice of a 30-year loan at an APR of 7.3%. Determine the total amount paid over the full term of the 30-year loan. Round answers to two decimal places.
A new car worth $24,000 is depreciating in value by $3000 per year.a. Write a formula that models the car’s value, y, in dollars, after x years.b. Use the formula from part (a) to determine after how many years the car’s value will be $9000.
A teacher makes $32,000 in his first year at Lakeside School and gets a 5% raise each year.(a) Find a formula for his salary An in his nth year at this school.(b) List his salaries for his first 8 years at this school.

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