Your friend borrows $7500 to buy an all-terrain vehicle (ATV). The simple annual interest rate is 6%. She pays off the loan after 5 years of equal monthly payments. How much is each payment?

$162.50

Step-by-step explanation:

The total amount to be paid is 7500+5(7500)(0.06)=$9750.

There were a total of (5)(12)=60 payments, so each payment is 9750/60 = $162.50.

Graphing the related system means that you do not have to rewrite the equation to set it equal to 0. It is easier because you can just graph each side of the equation. Sometimes it is difficult to locate the intersection point for the system. You might have to zoom in a lot or figure out how to resize the window. Using the related function lets you focus on the x-axis to find the points.

just took the test 100% sure.