Answer:
The answer is 24
Step-by-step explanation:
The formula of the present value of an annuity ordinary is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 280000
PMT monthly payment?
R interest rate 0.06
K compounded monthly 12
N time 20 years
Solve the formula for PMT
PMT=pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
PMT=280,000÷((1−(1+0.06÷12)^(
−12×20))÷(0.06÷12))
=2,006.01
Is there’s more to this question?
cccccccccccggggggggggggAnswer:
Step-by-step explanation:
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