In Problem use formula (5) or (6) to solve each problem. PV = $40,000; n = 96;
Question:
In Problem use formula (5) or (6) to solve each problem.
PV = $40,000; n = 96; i = 0.0075; PMT = ?
Formula 5
Formula 6
Transcribed Image Text:
,1 (1 + i)¹ i PV = PMT (5)
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Lets use Formula 6 to solve for the periodic payment PMT PMT PV x 1i Y...View the full answer
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Related Book For
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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