Register

Need help to solve PMT with detailed explanation cause my textbook got me confused

Need help to solve PMT with detailed explanation cause my textbook got me confused
asked 219k views
3 votes
Need help to solve PMT with detailed explanation cause my textbook got me confused

Need help to solve PMT with detailed explanation cause my textbook got me confused-example-1
asked
User James Campbell
by
8.6k points

1 Answer

6 votes

Given:


(100000*((0.09)/(12)))/(1-(1+(0.09)/(12))^((-12*15)))

Required:

Simplify the given

Step-by-step explanation:


(100000*0.0075)/(1-(1.0075)^(-180))=(750)/(1-0.2605)=(750)/(0.739)\approx1013.51

Final answer:

1013.51

answered
User Simon Mo
by
8.2k points
← Prev Question Next Question →

Related questions

User AvatarOfChronos
asked Mar 18, 2024 191k views
The PV function is structured as follows:=PV(rate, nper, pmt, [fv], [type])
AvatarOfChronos asked Mar 18, 2024
by AvatarOfChronos
8.8k points
1 answer
1 vote
191k views
User Slott
asked Jan 23, 2024 186k views
Solve the following problem. n=38;i=0.028;PMT=$152;PV=? PV=$ (Round to two decimal places.)
Slott asked Jan 23, 2024
by Slott
8.3k points
1 answer
4 votes
186k views
Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!