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

this a question i was brought to if ur Christian do u support lqbtq+ knowing the bible has been re-written so many times how do u believe things that are fake ?
Tell whether the angles are adjacent or vertical. Then find the value of x
Whoever answers first will get marked Best!A cheetah runs 177 miles in 3 hours,at this rate how many hours will it take to travel 531 miles?
Calculate an 8% tax on an $80 tablet.
(-4x - 7.5 = 3312.5) + (4x + 4y = 2000) (please im in a test rn)
The Cole family owns an above-ground circular swimming pool. Find the area of the pool if the circumference is 125.6 ft.
What’s an input Device
at 3 weeks old, a corn is 4 inches tall and at 15 weeks it is 44 inches tall. calculate the rate of change.
How did the Emancipation Proclamation affect the Civil War?
Why might members of India's lower social classes have been attracted to Sufi beliefs?