math
posted by Marjorie on .
If I lease equipment for 60 months and the original price is $20,000 at an interest rate of 12%, how much is my monthly payment?

Just plug these numbers into yur formula:
r is the interest per month (12%/12) = 0.01
P = 20000
n = 60
M = Pr/(11/(1+r)^n)