Hey, I need help with my Algebra 2
I need to know exactly how to do this.
If someone just gives me the answer, it's not going to help in the long run.
Thanks ^-^

Question

Hey, I need help with my Algebra 2
I need to know exactly how to do this.
If someone just gives me the answer, it's not going to help in the long run.
Thanks ^-^

anonymous · Answer

attachment

anonymous · Answer

$3\%$ as a decimal is $.03$ and that is your $r$ in the formula

anonymous · Answer

since there are $12$ months in a year, the $n$ is $12$

anonymous · Answer

the initial amount of the loan, presuming you put nothing down, is $39,145$

anonymous · Answer

plug all those numbers in the the formula

anonymous · Answer

it should be 
$$A(t)=(1+\frac{.03}{12})^{12t}$$

anonymous · Answer

i would like to add that this is TOTALLY WRONG 
loans do not work this way.  the formula for the payment is completely different
this formula would be for the situation is which you INVEST $\$39145$ and $3\%$ interest compounded monthly

anonymous · Answer

whoever wrote this question is completely clueless, but on the plus side i do get to add to to my collection of bad math problems, which i intend to publish some day
really shows the sorry state of mathematics education

anonymous · Answer

Yeah, I thought there was something strange about the question.
The latter half seemed rather ambiguous to me.
Thanks for the help, really appreciate it ^-^