<h2><u>Given</u><u>:</u><u>-</u></h2>
<h2><u>Solution</u><u>:</u><u>-</u></h2>
Answer:
Annual payument (PMT)= $1,663.19
Step-by-step explanation:
Giving the following information:
Loan (PV)= $250,000
Monthly interest rate (i)= 0.07/12= 0.005833
Number of periods (n)= 12*30= 360 months
<u>To calculate the monthly payment, we need to use the following formula:</u>
Annual payument (PMT)= (PV*i) / [1 - (1+i)^(-n)]
Annual payument (PMT)= (250,000*0.005833) / [1 - (1.005833^-360)]
Annual payument (PMT)= $1,663.19
Answer:
91 divided by 14 = 6.5 is the length
Step-by-step explanation:
Whenever given an area and 1 given length always divide the area by the length to find the missing length.