Short Answer
Find the periodic payment R required to amortize a loan of P dollars over t years with interest earned at the rate of r%/year compounded m times a year. Round your answer to the nearest cent.
P = 70,000, r = 11.5, t = 24, m = 14
R = $__________
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q159: Luis has $150,000 in his retirement account
Q160: Find the simple interest on a $500
Q161: Five years ago, Diane secured a bank
Q162: Find the nth term of the arithmetic
Q163: Find the effective rate corresponding to the
Q165: The Flemings secured a bank loan of
Q166: Sarah is the recipient of a trust
Q167: Joe plans to deposite $100 at the
Q168: Find the periodic payment R required to
Q169: Lowell Corporation wishes to establish a sinking