# 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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