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

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

Authors of the Articles of Confederation wanted to preserve the states' sovereignty, or absolute power.

What is the simplified form of each expression

What is the relationship between humidity and air pressure

Find the dimensions of a rectangle with area 2,197 m2 whose perimeter is as small as possible. (if both values are the same number, enter it into both blanks.

Which descriptions from the list below accurately describe the relationship between ABC and DEF? Check all that apply.

How many mcdonald's are there in the world?

Whose Presidency was MOST concerned with fulfilling the country's Manifest Destiny? A) John Adams B) James K. Polk C) Andrew Johnson D) Abraham Lincoln

These goals help a person stay focused and motivated as they pursue a long-term goal. short-term educational career dream

How did mass production affect economics?\ The consumer had a stronger voice. The producer had the lead. The manufacturer made the decisions. The government too

Need help I can't find the answer