Gerald wants to borrow $12,000 in order to buy an engagement ring. he wants to repay the loan by making monthly installments for two years.
if the interest rate on this loan is 9 1 2 % per year, compounded monthly, what is the amount of each payment?

  $550.97

Step-by-step explanation:

The amortization formula will tell you the payment amount.

  A = P(r/12)/(1 -(1 +r/12)^(-12t))

where A is the monthly payment, P is the principal amount of the loan, r is the annual interest rate, t is the number of years. Using your values, this is ...

  A = $12,000(0.095/12)/(1 -(1 +0.095/12)^(-12·2)) ≈ $550.97

The amount of Gerald's payment is $550.97.

hope it you

step-by-step explanation:

sin(7pi/6 - pi/3)  

= sin(7pi/6 - 2pi/6)  

= sin(5pi/6)  

= sin(pi - pi/6)  

= sin(pi/6)  

= 1/2  

sin 7pi/6 - sin pi/3  

= sin (pi + pi/6) - sin pi/3  

= -sin pi/6 - sin pi/3  

= -1/2 - sqrt(3)/2  

= -(1+sqrt(3))2