Mathematica Tool 2

This tool supports Activity 2 in Section 1.5

First we define a monthly payment equation. Note the distinction between "=" which assigns something to something a name (in this case Equation), and "==", which is just one of the symbols in the formula that gets assigned to Equation. [We use Dp for down payment because D is a reserved character in Mathematica.

Quit[ ]

Equation=p==((((P-Dp)*r*(((1+r))^n)))/(((((1+r))^n)-1)))

Part a.
When we assign values to all the symbols on the right hand side of the equation, we get a new form of the equation that tells us the monthly payment.

P=19000;
Dp=2700;
r=0.00325;
n=48;
Equation

The command "Quit[ ]" restarts the Mathematica kernel. This action "unassigns" (i.e. takes away the values of) all of the symbols so we can start over.

Quit[]

Part b.
  This time we assign values to everything but P and then solve the resulting equation.

Equation=p==((((P-Dp)*r*(((1+r))^n)))/(((((1+r))^n)-1)))
p=280;
Dp=2700;
r=0.00325;
n=48;
Equation

The result is a linear equation in P. Replace the question marks in the next command with appropriate numbers and operations from the preceding equation in order to find P.

P= "???"