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a small business loan in the amount of 50,000 with an interest rate of 9% that compounds monthly for 7 years what would my monthly payment be

  • math -

    let the payment be P
    i = .09/12 = .0075
    n = 7(12) = 84

    P( 1 - 1.0075^-84)/.0075 = 50000
    ...
    ...

    P = $804.45

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