Answer
$\approx990.3$
Work Step by Step
Plugging in $P=15500,t=4,i=0.06$ we get: $M=\frac{15500(0.06)(1+0.06)^{12\cdot4}}{(1+0.06)^{12\cdot4}-1}\approx990.3$
Algebra 2 (1st Edition)
by Larson, Ron; Boswell, Laurie; Kanold, Timothy D.; Stiff, Lee
Published by
McDougal Littell
ISBN 10:
0618595414
ISBN 13:
978-0-61859-541-9
Chapter 8 Rational Functions - 8.5 Add and Subtract Rational Expressions - 8.5 Exercises - Problem Solving - Page 588: 43b
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