Using technology, determine the present value given that you make monthly payments of $250.00 at 2.3% compounded monthly over a 5 year period. round your answer to the nearest cent. a. $10,776.33 b. $8,046.04 c. $14,156.84 d. $14,165.26

The correct option is c.

Step-by-step explanation:

Given information: monthly payments = $250.00, Interest rate = 2.3% compounded monthly over a 5 year period.

The formula for monthly payment:

Where, C is monthly payment, r is rate of interest, n is number of times interest compounded in a year, t is number of years, PV is present value.

The present value is 14156.84.

Therefore the correct option is c.

x = 2

step-by-step explanation:

if sr parallel to ba then the sides bc and ac are in proportion, that is

= ← substitute values

= ( cross- multiply )

27x = 6(4x + 1)

27x = 24x + 6 ( subtract 24x from both sides )

3x = 6 ( divide both sides by 3 )

x = 2