Wednesday

July 23, 2014

July 23, 2014

Posted by **melony** on Thursday, September 13, 2012 at 5:37pm.

- math -
**Reiny**, Thursday, September 13, 2012 at 6:12pmYou are going to use the formula

Present value = payment (1 - (1+i)^-n )/i

where i is the periodic interest rate as a decimal, and n is the number of periods

for yours:

PV = 1,000,000

payment = ?

i = .065

n = 10

1000000 = payment(1 + 1.065^-10)/.065

1000000 = payment(7.188830223)

payment = $ 139,104.69

**Related Questions**

eco - Suppose a person pays $80 of annual interest on a loan that has a 5 ...

VBA Programming - I'm trying to create a macro that asks for a loan between 1 ...

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

math - Five (5) years ago, you bought a house for $171,000, with a down payment ...

algebra - Five (5) years ago, you bought a house for $171,000, with a down ...

math - Assignment 2: Financial Project Due Week 7 and worth 55 points Five (5) ...

financial project - Five (5) years ago, you bought a house for $171,000, with a ...

Maths - Amortization of a $1000 Loan Interest Monthly payment rate 15yr 20yr ...

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

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