Question: PLEASE ENCODE THIS USING KEYBOARD THANKYOUUUU 90, 000 = C [1- (1+0. 00375) -180 0:0 0375 130.72010 1 C = q0, 010 13 0, T20101

PLEASE ENCODE THIS USING KEYBOARD THANKYOUUUU

90, 000 = C [1- (1+0. 00375) -180 0:0 0375 130.72010 1 C = q0, 010 13 0, T20101 *#130720101 C = 6 8 8 . 4 9 39599 I C = 688, 49 (2 decimal places) Thus, the monthly Payment should be = $688. 49 in order to pay off the dent in 15 jews.Solution : D Let S be the present Value of loan I.e S = $ 90, 10 0 Q. = the interest growth on the growth rate per Period. Q = 4. S , Since there are 12 montes in ayear. (32 X12 Q 1 = 0 . 00 375 Let C be the amount which is pard per month n= number of periods of grant be n = 12x 15; Since monthly installments n= 180; monthly installments are given for 15 years . Then , C C C + . . . nterms S - - + It Q , ( 1 + 9 . ) + 1 - S = C [ I - [ + Q. )"] Replacing with the values of S, C, Q, and no we get

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