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Ilya [14]
3 years ago
9

Find the amount of each payment necessary to amortize the following loan.

Mathematics
1 answer:
Sonbull [250]3 years ago
3 0
Use the formula of the present value of annuity ordinary
The formula is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 84700
Pmt payment per quarter ?
R interest rate 0.10
K compounded quarterly 4
N time 9 years
We need to solve for pmt
Pmt=pv÷ [(1-(1+r/k)^(-kn))÷(r/k)]
Pmt=84,700÷((1−(1+0.10÷4)^(−4
×9))÷(0.10÷4))=3,595.65

Hope it helps
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Mr. Gonzalez drove 30 miles in March. He drove 5 times as many miles in March as he did in January. He drove 2 times as many mil
Deffense [45]
<h2>Answer:</h2>

<h2>12 miles</h2>

Step-by-step explanation:

Given information :

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8 0
3 years ago
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Answer:

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