Question: Use a calculator to evaluate the amortization formula m = P r n 1 1 + r n nt for the values of the variables

Use a calculator to evaluate the amortization formula m = P r n 1 1 + r n nt for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) $14,000; 5%; 3 yr

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