One retailer charges $1027 for a certain computer. A firm of tax accountants buys 7 of these computers. It makes a do balance with monthly payments at 9% interest for 5 years. Prepare an amortization schedule showing the first four mo Write the equation that can be used to find the amount of each monthly payment. PV• 0.0075 PMT = where PV = 6089 - 12(5) .09 1-1+ 12 (Type integers or decimals.) Fill out the amortization schedule below. Assume monthly payments and round all values to the nearest cent. Principal at Payment Amount of Interest for Portion to Number Payment End of Period Principal Period $6089.00
One retailer charges $1027 for a certain computer. A firm of tax accountants buys 7 of these computers. It makes a do balance with monthly payments at 9% interest for 5 years. Prepare an amortization schedule showing the first four mo Write the equation that can be used to find the amount of each monthly payment. PV• 0.0075 PMT = where PV = 6089 - 12(5) .09 1-1+ 12 (Type integers or decimals.) Fill out the amortization schedule below. Assume monthly payments and round all values to the nearest cent. Principal at Payment Amount of Interest for Portion to Number Payment End of Period Principal Period $6089.00
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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all first four months please
Transcribed Image Text:One retailer charges $1027 for a certain computer. A firm of tax accountants buys 7 of these computers. It makes a down payment of $1100 and agrees to amortize the
balance with monthly payments at 9% interest for 5 years. Prepare an amortization schedule showing the first four monthly payments for this loan.
.....
Write the equation that can be used to find the amount of each monthly payment.
PV• 0.0075
PMT =
where PV = 6089
- 12(5)
.09
1+
12
1-
(Type integers or decimals.)
Fill out the amortization schedule below. Assume monthly payments and round all values to the nearest cent.
Payment Amount of Interest for
Payment
Principal at
End of
Portion to
Number
Period
Principal
Period
$6089.00
1
$
$
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