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August 23, 2014

August 23, 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!

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