Asked by buffy
Find the monthly payment for the loan. (Round your answer to the nearest cent.)
$800 loan for 12 months at 10%
$800 loan for 12 months at 10%
Answers
Answered by
Reiny
i = .10/12 = .0083333... ( I stored in calculator)
n = 12
PV = paym( 1- (1+i)^-n )/i
800 = paym( 1 - 1.008333..^-12 )/ .008333
..
after some button - pushing I got
paym = $70.33
n = 12
PV = paym( 1- (1+i)^-n )/i
800 = paym( 1 - 1.008333..^-12 )/ .008333
..
after some button - pushing I got
paym = $70.33
Answered by
khadijat
for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.)
$150,000; 4%; 30 yr
$150,000; 4%; 30 yr