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| rev | Admin | (Created page with "'''Solution: A''' <math display = "block"> \begin{align*} 699.68=P\nu^{8-5+1}\\ P=842.39~(\textrm{annual payment})\\ P_{1}=\frac{609.68}{1.0475^{4}}=581.14 \\ I_{1}=842.39-581.14=261.25 \\ L =\frac{261.25}{0.0475}=5500 (\textrm{loan amount}) \end{align*} </math> Total interest = 842.39(8) - 5500 = 1239.12. {{soacopyright | 2023 }}") | Nov 18'23 at 22:15 | +334 |