Ask a New Question

Question

Find the monthly payments for an ordinary annuity that will yield a future value of $122000 at % interest for 22 years.

payment
15 years ago

Answers

MathMate
Use the same formula as the other post:

For an annual payment P for n years at interest rate r, the value of the investment is
A=Pr^n+Pr^(n-1)+....Pr
=Pr(1+r+r²+...+rn-1)
=Pr(rn-1)/(r-1)

Here A=122000
n=22
r has not been supplied.
Solve for P.

Note: Please do not switch screen names. Doing so will cause loss of continuity.
15 years ago

Related Questions

The monthly payments on an 8-year loan compounded monthly at 4.75% are $100. What was the original a... a. Find the monthly payments for a simple interest amortized loan of $16000 at 7 1/8 % for 7 years... Find the monthly payments for an ordinary annuity that will yield a future value of $80000 at 9 1/... The monthly car payments for Ted Nelson's last eight customers were $266, $285, $285, $285, $285, $3... what are monthly payments on $100,000.00 at 1% over 5 years so if i have monthly payments i would multiply the monthly payment by 12 then add it to the down pay... Find the monthly house payments necessary to amorti ze each loan. Then calculate the total paymen... How ugh are monthly payments on 100000 for 36 mo, at 9% ? a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is ​... Your monthly payments for a house are likely to be as high as rent when you factor in mortgage payme...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use