The current monthly pay can be calculated as follows;
A=p(1/r/100)^n
A=10000
r=5.9/12=0.5%
10000=p(1+0.5/100)^(4*12)
10000=p(1.005)^48
p=10000/(1.005)^48
p=7,871
the monthly payment will be:
7871/12
=$655.92
Answer: 1. (-5) 2. 24) 3. (-32)
Step-by-step explanation:
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