One retailer charges $1048 for a certain computer. A firm of tax accountants buys 7 of...
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One retailer charges $1048 for a certain computer. A firm of tax accountants buys 7 of these computers. It makes a down payment of $1100 and agrees to amortize the balance with monthly payments at 9% interest for 3 years. Prepare an amortization schedule showing the first four monthly payments for this loan. Write the equation that can be used to find the amount of each monthly payment PV- PMT= where PV= (Type integers or decimals.) One retailer charges $1048 for a certain computer. A firm of tax accountants buys 7 of these computers. It makes a down payment of $1100 and agrees to amortize the balance with monthly payments at 9% interest for 3 years. Prepare an amortization schedule showing the first four monthly payments for this loan. Write the equation that can be used to find the amount of each monthly payment PV- PMT= where PV= (Type integers or decimals.)
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Answer rating: 100% (QA)
Question 1 The equation for the monthly payments for the loan is PV PMT 0 Where PV is the present value of the loan which is equal to the total cost o... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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