Question: plz answer all parts could u answer 9-12 In problems #7 & 8, find the periodic payment R required to amortize a loan of P
In problems #7 & 8, find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r% per year com- pounded m times a year. 7. P=30,000, r=3, t=12, m=2 8. P=70,000, r=5.5, t=10, m=12 In problems #9 & 10, find the periodic payment R required accumulate a sum of S dollars over t years with interest charged at the rate of r% per year com- pounded m times a year. 9. P=50,000, r=4, t=8, m=4 10. P=100,000, r=4.5, 1=30, m=6 I 11. Kyle want to accumulate $12,000 by the end of 6 years in his bank account. To achieve this goal, he plans to deposit a fixed sum of money over the 6-year pe- riod. If the bank pays interest at the rate of 5% per year compounded monthly, how much does he have to deposit each month into his account? 12. Ronan purchased a house for $400.000. He made an initial down payment of 10% and obtained financing for the balance. If the loan is to be amortized over 15 years at an interest rate of 6% per year compounded monthly find the monthly mortgage
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