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November 27, 2014

November 27, 2014

Posted by **Linda** on Sunday, December 30, 2012 at 4:15pm.

- math -
**Reiny**, Sunday, December 30, 2012 at 4:58pmpresent value of debt = payment(1 - (1+i)^-n)/i

where i = monthly rate

n = number of months

i = .11/12 = .00916666..

n = 36

21000 = paym (1 - 1.00916666..^-36 )/.0091666..

paym = $ 687.51

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