How ugh are monthly payments on 100000 for 36 mo, at 9% ?
2 answers
(100,000 * 1.09 * 3) / 36 = $_______
I think we should use compound interest here.
i = .09/12 = .0075
let the payment be p
p( 1 - 1.0075^-36)/.0075 = 100000
p = $3179.97
i = .09/12 = .0075
let the payment be p
p( 1 - 1.0075^-36)/.0075 = 100000
p = $3179.97