Assuming monthly payment of $250, which implies APR=0.01*12=0.12.
If it is different, please specify.
target P=20000,
A=250
n=to be determined such that P>=target P=20000
The annuity equation with given (monthly) payment is given by
P=250(P/A,i,n)
=A((1+i)^n-1)/(i(1+i)^n)
=250(1.01^n-1)/(0.01(1.01)^n)
=25000(1.01^n-1)/(1.01^n)
Solve for n by trial and error,
Rewrite
20000<=25000(1-1/1.01^n)
=>
1.01^n>=25000/20000=1.25
Take log on both sides,
n*log(1.01)>=log(5)
n>=log(5)/log(1.01)=161. 75
=> n=162 (next integer)
Check:
P=250(P/A,0.01,162)=250*(1.01^162-1)/(.01*1.01^162)=20012.56 ok.
So we need to plug in y into our equation so our new equation is:
4x - 2(x+1.75) = 4
first lets distribute the 2 by multiplying the values inside the parentheses by 2
4x - 2x + 3.5 = 4
4x - 2x = 2x
so now our equation is 2x + 3.5 = 4
we need to get x by itself on one side of the parentheses so lets move the 3.5 by subtracting by 3.5 on both sides
2x + 3.5 = 2x
4 - 3.5 = .5
new equation: 2x = .5
now to get rid of this 2 (being multiplied by x) we simply have to do the opposite - divide by 2 on each side
2x/2 = x
.5/2 = .25
so our x value is equal to .25!
if you have any questions about how i answered this question please let me know:)
N=- 5 or n= -2
Hope this helps!
2/5 is greater than 1/3, because 2/5 = .4 and 1/3= .33333333..... Hope I was helpful.
Equation: 53x + 460 = 1096
Solution 1096 - 460 = 53x
636/53=x
12=x
12 hours