Tuesday

October 21, 2014

October 21, 2014

Posted by **Vicki** on Thursday, December 20, 2012 at 1:58pm.

- Algebra CTU -
**Henry**, Saturday, December 22, 2012 at 9:43pmP = (Po*r*t)/(1-(1+r)^-t).

Po = $50,000 = Initial loan.

r = (9%/12) / 100% = 0.0075 = Monthly %

rate.

t = 12Mo/yr * 7yrs = 84 Mo.

Plugged the above values into the given Eq and get: P = $67,574.13.

Monthly Payment = 67,574.13/84Mo=$804.45

Payment--Int.--Principal.--Balance.

1.804.45--375.---429.45------49570.55.

2.804.45--371.78--432.67-----49137.88.

12.804.45--338.21--466.24----44628.62.

**Answer this Question**

**Related Questions**

Amoritizing Loans - "A woman borrows $6000 at 9% compounded monthly, which is to...

CTU - Part IV: You find that a small business loan in the amount of 50,000 is ...

algebra - my scenario, to start a small business you will need a loan of $50.000...

Mathematics - I really need help with these three questions. Thank You. 1. ...

Algebra - You have just graduated from college and landed your first big job. ...

Algebra - You find that a small business loan in the amount of 50,000 is the ...

Algebra - You find that a small business loan in the amount of 50,000 is the ...

algebra - You have just graduated from college and landed your first big job. ...

ALGEBRA - Part III: Mathematics of Finance You have just graduated from college ...

compund interest - Payments of $1800 and $2400 weere made on a $10,000 variable-...