math

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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?

  • math -

    Just plug these numbers into yur formula:
    r is the interest per month (12%/12) = 0.01

    P = 20000
    n = 60

    M = Pr/(1-1/(1+r)^n)

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