The quotient of 2 non-zero integers is seldom another integer.
In fact, the quotient is another integer ONLY when the divisor
is a factor of the dividend.
Answer:
$7,925.53
Step-by-step explanation:
We'll have to use the compound interest formula: A = P(1 + r/n)ⁿˣ
A = final amount (?)
P = starting amount (5700)
r = rate
n = times applied (12 since its monthly and there 12 months in a year)
x = years (12)
A = 5700(1 + 0.0275/12)¹⁴⁴
A = 7925.525498629932
105 divided by 6 equals 17. 5
She should buy 18 packages
Given that
starting outstanding balance = $150000
rate of interest = 7.5% per year
so rate of interest for 1 month = (7.5/12)% = 0.635%
outstanding balance before 1st monthly payment = starting outstanding balance + 0.625% of interest on starting outstanding balance
= 150000 + (0.625 /100) × 150000
= 150000 + 937.5 = $150937.5
Reduction = outstanding balance after one month - first monthly payment
Reduction = $150937.5 - 1010.10 = 149927.40
so out of first payment of $1,010.10 , $937.5 goes towards interest and remaining $72.6 goes towards reduction of principal that is 150000 - $72.6 = 149927.40.
so correct option is B that is $149927.40.