Saturday

July 26, 2014

July 26, 2014

Posted by **Anonymous** on Sunday, July 24, 2011 at 1:50am.

- math -
**MathMate**, Sunday, July 24, 2011 at 7:57ami=interest rate per period(assumed compounded each period)

P=monthly payment

n=number of payments

A=amount borrowed

A(1+i)^n=P((1+i)^n - 1)/(i)

For

i=0.1/12=1/120

A=10000

n=48

Monthly Payment, P

=A(1+i)^n*(i) / ((1+i)^n - 1)

=10000(121/120)^48*(1/120) / ((121/120)^48-1)

=10000 * 0.025363

=253.63

- math -
**REHAN**, Sunday, July 24, 2011 at 8:36amTHNX!!!

- math :) -
**MathMate**, Sunday, July 24, 2011 at 9:16amYou're welcome!

**Related Questions**

Math - Q: A coule borrow Rs. 10,000 to buy a car. The loan agreement specifies ...

finance - You borrow $185,000 to buy a house. The mortgage rate is 6.5 percent ...

SOMEBODY HELP ME WITH MATH!!!!!! - A person wishes to borrow $20,000 and has the...

Finance - you have contacted a number of dearlerships to determine the best ...

Finance - you have contacted a number of dearlerships to determine the best ...

Finance - you have contacted a number of dearlerships to determine the best ...

Finance - you have contacted a number of dearlerships to determine the best ...

Finance - Loan Payments - If you take out an $8,000 car loan that calls for 48 ...

public finance - Your annual income is $50,000. You want to take out a mortgage ...

math - interest rates - Car loan: 5-yr annual-payment loan with interest rate of...