Question

What would Heather's monthly payment be

Answer 1

Principal P = $5000

Rate r = 4.75% = 0.0475

t = 18 months = 1.5 years

Amount A

`\begin{gathered} A=P(1+r)^t \\ A\text{ = 5000(1 + }(4.75)/(100))^(1.5) \\ A=5000(1.0475)^(1.5) \end{gathered}`