Friday

January 30, 2015

January 30, 2015

Posted by **LILLY** on Tuesday, March 26, 2013 at 4:06pm.

- MATH -
**Reiny**, Tuesday, March 26, 2013 at 4:27pmoriginal plan:

payment = 597.21

i = .075/12 = .00625

n = ?

34000 = 597.21 (1 - 1.00625^-n)/.00625

.3558212.. = 1 - 1.00625^-n

1.00625^-n = .644178764

-n(log 1.00625) = log .64417..

-n = -70.58

n = 70.58 months

new plan:

payment = 697.21

everything stays the same,

repeat the above steps to find the new n value

**Answer this Question**

**Related Questions**

math - Susan Borrowed $5000. The term of the loan is 12% compouned monthly for 3...

Algebra: Statistics - Five years ago, you bought a house for $151,000, with a ...

Math - Maya bought a car for $15,000. To pay for it, she took a bank add-on ...

Math Finance please help - Five years ago, you bought a house for $151,000. You ...

Finance - Five years ago, you bought a house for $151,000. You had a down ...

math - Five years ago, you bought a house for $151,000, with a downpayment of $...

math - The Sandersons are planning to refinance their home. The outstanding ...

MATH - Five years ago, you bought a house for $151,000, with a down payment of $...

math - The Sandersons are planning to refinance their home. The outstanding ...

Math - 4. Vanna has just financed the purchase of a home for $200 000. She ...