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Use a calculator to evaluate the amortization formula m = -nt 1 - 1 +L „(G+1)-1 for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) $14,000; 6%; 9 yr 2$

Use a calculator to evaluate the amortization formula m = -nt 1 - 1 +L „(G+1)-1 for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) $14,000; 6%; 9 yr 2$

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Use a calculator to evaluate the amortization formula 1- (1 + 4)"* m = -nt for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) $14,000; 6%; 9 yr 2$
Transcribed Image Text:Use a calculator to evaluate the amortization formula 1- (1 + 4)"* m = -nt for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) $14,000; 6%; 9 yr 2$
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