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anonymous
 5 years ago
m 2.4
A debt of $10,000 is to be amortized by equal payments of $400 at the end of each month, plus a final payment after the last $400 payment is made. If the interest is at the rate of 1% compounded monthly (the same as an annual rate of 12% compounded monthly),
i. Write a discrete dynamical system that models the situation
anonymous
 5 years ago
m 2.4 A debt of $10,000 is to be amortized by equal payments of $400 at the end of each month, plus a final payment after the last $400 payment is made. If the interest is at the rate of 1% compounded monthly (the same as an annual rate of 12% compounded monthly), i. Write a discrete dynamical system that models the situation

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0are you look for amortization table?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ii. Construct a table showing the amortization schedule for the required payments. iii. Find a solution for the system.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0A=P (r(1+r)^n)/(1+r)^n  1

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0First month  p second month  p[1+r] 400 third month  p[1+r][1+r]^2 400 Fourth month  p[1+r][1+r]^2+[1+r]^3400

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so the solution would be A{n}=10,000(1.01)?????

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0how would I enter into graphing calculator?
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