Answer:
The closest answer I got was 29555.50.
Step-by-step explanation:
I used the rate r=0.0825/12 to represent the monthly rate and used that for the whole equation. I final answe I got by plugging in the numbers was 29555.11248. So I'm not too sure whether or not it't correct,
B
Plug and chug
n=4*12=48 (convert annual to monthly)
P=725
r=0.0825/12=0.006875 (convert % to decimal & annual to monthly)
So
A=(725[(1.006875^48)-1]/[0.006875(1.006875^48)]
A=29555.1125
