Wednesday

April 16, 2014

April 16, 2014

Posted by **rose** on Saturday, February 5, 2011 at 2:10pm.

amotization table: loan 26,000, down payment of 5,000 at 11% for 36 months

- math -
**helper**, Saturday, February 5, 2011 at 3:02pm26.000 less 5,000 = 21,000 loan

11% for 36 months

A = P * (r * (1 + r)^n)/((1 + r)^n - 1)

A = Payment amount/period

P = Loan amount = 21,000

r = interest rate = .11/36 = 0.003056

n = number of payments = 36

A = 21,000*(0.003056*(1 + 0.003056)^36 /

((1 + 0.003056)^36 - 1)

A = 21,000 * (0.003056 * (1.003056)^36/

((1.003056)^36 - 1)

A = 21,000 * (0.003056 * (1.11611))/

((1.11611) - 1)

A = 21,000 * (0.003411)/(0.116110)

A = 21,000 * 0.029377

A = 616.92

Monthly payment = $616.92

**Related Questions**

math - calculate the monthly payment by loan amortization table: loan $26,000; ...

Math - Calculate the monthly payment by loan amortization table Loan $26,000 ...

Math - Calculate the monthly payment loan amortization table. Loan $26,000 Down ...

math - How do I calculate the monthly payment...... Loan is $26,000.00 Down ...

math - calculate the monthly payment by loan amortization table: loan $26000, ...

Math - 4. Find the monthly payment for the loan. (Round your answer to the ...

MATH - Five years ago, you bought a house for $151,000, with a down payment of $...

Algebra: Statistics - Five years ago, you bought a house for $151,000, with a ...

MATH - Five years ago, you bought a house for $151,000, with a down payment of $...

Math 104 - Five years ago, you bought a house for $171,000. You had a down ...