Use the future value formula to find the indicated value. FV = $ 5330 n=24; i=0.08; PMT=? PMT=$ (round to the nearest cent)

1 answer:

4 0

Hi there
The future value formula is
Fv=pmt [(1+r)^(n)-1)÷r]
Solve the formula for PMT
PMT=Fv÷[(1+r)^(n)-1)÷r]
So
PMT=5,330÷(((1+0.08)^(24)−1)÷(0.08))
PMT=79.83

Good luck!

You might be interested in

Can some one help me I dont get this

MA_775_DIABLO [31]

Answer: i think A

Step-by-step explanation:

3 0

2 years ago

Read 2 more answers

Find the value of x that makes a true statement:

FromTheMoon [43]

Yes you are smart plus it 24 +0 =24 because think about it 24+ what equals 24242424+0=

5 0

2 years ago

Ginger bought 4 bunches of mint for $9. How many bunches of mint can Melinda buy if she has $18?

Dominik [7]

Answer:

8 bunches

Step-by-step explanation:

4/8 9/18

8 0

2 years ago

Read 2 more answers

What's the function Y = -1/3x + 5, find the matching Y-value when x= -6

Alina [70]

Plug -6 in for x and solve.
y = (-1/3)(-6) + 5
y = 2 + 5
y = 7

6 0

3 years ago

Ava arrived at a restaurant for dinner at 6:14. She placed her order, ate, and paid the bill.

SOVA2 [1]

6:14 + 2 hours = 8:14
8:14 + 20 minutes = 8:34
8:34 + 8 minutes = 8:42
C

5 0

2 years ago

Use the future value formula to find the indicated value. FV = $ 5330 n=24​; i=0.08​; PMT=? PMT=$ (round to the nearest cent)

Use the future value formula to find the indicated value. FV = $ 5330 n=24; i=0.08; PMT=? PMT=$ (round to the nearest cent)