What is the maximum amount of a loan you can get if you pay $700 each month at a yearly rate of 0.89% for 10 years?

$785.17

Step-by-step explanation:

Given data

PV is the loan amount

PMT is the monthly payment

i is the interest rate per month in decimal form (interest rate percentage divided by 12)

n is the number of months (term of the loan in months)

PMT =$700

n = 10 years

i = 0.89%

The formula for the loan amount is

1.5%

step-by-step explanation:

area = length x width

length = 2 x width

32 = 2 x width x width

32 = 2 x width^2

36 = width ^2  

width = 6

length = 12

area is 32

perimeter = 2 x 12 + 2 x 6 = 24 + 12 = 36

step-by-step explanation: