Use a calculator to evaluate the amortization formula m = P r n 1 − 1 + r n −nt for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) $150,000; 8%; 30 yr
Use a calculator to evaluate the amortization formula m = P r n 1 − 1 + r n −nt for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.) $150,000; 8%; 30 yr
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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Use a calculator to evaluate the amortization formula
m =
P
|
||||||
1 −
|
for the values of the variables P, r, and t (respectively). Assume n = 12. (Round your answer to the nearest cent.)
$150,000; 8%; 30 yr
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