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(Solved): Short Answers. You need to show your work. 14. Let M(P,r, t) denote the monthly payment if you borro ...
Short Answers. You need to show your work. 14. Let M(P,r, t) denote the monthly payment if you borrow P dollars at a monthly rate of r expressed as a decimal, and the loan is repaid in months. Use functional notation to indicate the monthly payment if you borrow 50000 dollars at an APR of 4.25% percent, and you repay the loan in 5 years. Use 3 decimal places for r. 15. You sell calculators at a base price of $68 each. To encourage volume purchases, you deduct $2 from the base price for each extra calculator purchased. So, if one calculator is purchased you charge $68. If two are purchased you charge $66 for each calculator. If three are purchased, you charge $64 for each calculator, and so on. Write a formula that gives the total amount C, in dollars, you charge a customer who buys calculators. 16. The following table shows the number of magazines soldt weeks after the first issue was published. Based on the table, what do you expect is the limiting value of magazine sales? t = weeks 10 20 30 40 50 60 13
14. Let denote the monthly payment if you borrow dollars at a monthly rate of expressed as a decimal, and the loan is repaid in months. Use fimctional notation to indicate the monthly payment if you borrow 50000 dollars at an APR of percent, and you repay the loan in 5 years. Use 3 decimal places for . 15. You sell calculators at a base price of each. To encourage volume purchases, you deduct from the base price for each extra colculator purchased. So, if one calculator is purchased you charge . If two are purchased you charge for each calculator. If three are purchased, you charge for each calculator, and so on. Write a formula that gives the total amount , in dollars, you charge a customer who buys caleulators. 16. The following table shows the number of magazines sold weeks after the first issue was published. Based on the tahla what de ure avnect ie the liwitine value of magazine salas?
Expert Answer
14.Let M(P, r, t) be the monthly payment function, where P is the principal amount borrowed, r is the monthly interest rate (expressed as a decimal), and t is the repayment period in months. To find the monthly payment for borrowing $50,000 at an annual percentage rate (APR) of and a repayment period of 5 years (60 months), we need to convert the APR to a monthly interest rate.