Katelyn plans to apply for a $10,000 loan at an interest rate of 5.6% for 5 years. Use the monthly payment formula to complete the statement.

P(1)(1 + 5) 121

M= (1 + 5)12² - 1

M= monthly payment

P= principal

r= interest rate

t= number of years

Rounded to the nearest cent, Katelyn's monthly payment for the loan is $

Katelyn's monthly payment for the loan is $ 2,032.52

Step-by-step explanation:

The formula given is explicit,we can solve for monthly payment using the below formula

P=L(1-r/r-r^n+1)

r=1/(1+i)

i=5.6%/12=0.47%

5.6% is an annual interest rate,it would be appropriate to restate in monthly terms

r=1/(1+0.47%)=0.995

n=5 years*12 months=60

L is the loan amount of $100,000

P=100000*(1-0.995)/(0.995-0.995^60+1)

=100000*(1-0.995)/(0.995-0.74)

=100000*0.005/0.246

=$ 2,032.52  

its 50 miles away from the starting point

the number of possible outcomes that do not show a 1 on the first spinner and show the number 4 on the second spinner is 2.

spinner 1 spinner 2

1                     1

1                     2

1                     3

1                     4

2                   1

2                   2

2                   3

2                   4   = not 1, and 4

3                   1

3                   2

3                   3

3                   4 = not 1, and 4

only 2 outcomes have passed the given condition.

step-by-step explanation: