Use a calculator to evaluate the amortization formula [m=frac{Pleft(frac{r}{n}ight)}{1-left(1+frac{r}{n}ight)^{-n t}}] for the values of the variables (P,

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Use a calculator to evaluate the amortization formula

\[m=\frac{P\left(\frac{r}{n}ight)}{1-\left(1+\frac{r}{n}ight)^{-n t}}\]

for the values of the variables \(P, r\), and \(t\) (respectively) given in Problems 13-20. Assume \(n=12\).

\(\$ 260,000 ; 9 \% ; 30 \)yr

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