Kay walks upstairs to make her legs stronger. Every day at work, she walks up 9 flights of stairs. If there are 13 steps in 1 fl
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The present value (PV) of a loan for n years at r% compounded t times a year where there is equal P periodic payments is given by:
Given that <span>Beth is taking out a loan of PV = $50,000 to purchase a new home for n = 25 years at an interest rate of r = 14.25%. Since she is making the payment monthly, t = 12.
Her monthly payment is given by:
Therefore, her monthly payment is about $611.50
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Given that <span>Beth is taking out a loan of PV = $50,000 to purchase a new home for n = 25 years at an interest rate of r = 14.25%. Since she is making the payment monthly, t = 12.
Her monthly payment is given by:
Therefore, her monthly payment is about $611.50
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