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Original Question
Find the payment necessary to amortize a 4% loan of $900.00 compounded quarterly , with 11 quarterly payments?Asked by sam
Find the payment necessary to amortize a 4% loan of $1700 compounded quarterly, with 19 quarterly payments.
Answers
Answered by
Reiny
PV = 1700
i = .04/4 = .01
n = 19
paym = ?
PV = paym( 1 - (1+i)^-n ) / i
sub in the values, and solve for paym
i = .04/4 = .01
n = 19
paym = ?
PV = paym( 1 - (1+i)^-n ) / i
sub in the values, and solve for paym