Find the monthly payment p=$20,000 i=12% t=5 years

$5,548.20

Step-by-step explanation:

p=$20,000

i=12%

t=5 years

find the monthly payment

solution:

                                       r(1 + r)^n

monthly payment = P

                                     (1 + r)^n - 1

                                                0.12 (1 + 0.12)^5

                              = 20,000

                                               (1 + 0.12)^5 - 1

                              = 20,000 x   0.211

                                                   0.762

                              = 20,000 x 0.277

                              = $5,548.20

therefore,

the monthly payment is $5,548.20

all three statements are true

step-by-step explanation:

a shipping fee of 5% is charged online with every item purchased online

first let's just take each option and calculate them based on this, to see if the answers matched

keith buys a 40 dollar book

40 x 0.05 = 2

therefore there will be a two dollar fee on keith's book

40 + 2 =42

the first statement is true

a chair costs $80

80 x 0.05 = 4

80 + 4 = 84

the second statement is true

george buys a 20 dollar calculator

20 x 0.05 = 1

20 + 1 = 21

the third statements are true

all three statements are true