Hannah2561 Hannah2561
  • 01-10-2017
  • Mathematics
contestada

A loan of $12,500 at 9% is to be repaid with n level payments. if in = 128.04, what is the value of n?

Respuesta :

zrh2sfo
zrh2sfo zrh2sfo
  • 04-10-2017

present value of annuity = annual payment * [ 1 - (1+i)^-n ]/i

=>

12500 = 128.04 * [1-(1+9%/12^-n]/9%/12

=>n = 42 payments

Answer Link

Otras preguntas

A_____ is a separate compartment in a waterway where water levels are raised or lowered
Help simplify the answer. In the picture
I need help on this problem please help me.
What is most commonly cited cause of occupational injuries in the healthcare sector?
What is pollution and can we prevent it?
which type of language is used in the sentence below? The artist uses bright colors and Broad brush-strokes to evoke a sense of jubilance and joy1. formal objec
1. What new forms of writing have developed in our networked world, and how has our writing changed as a result? (10 points)
Which expressions are equivalent to 6g-18h
WILL MARK BRANLIEST! PLZ HELP ASAP!!!!! I AM STUCK+20 POINTS!!!!! Where is the highest elevations in the Midwestern states? Missouri Minnesota Wisconsin Te
suppose that a board is 25 inches long and is cut into three pieces so that the first piece is twice as long as the second, and the third is 11 less than 3 time