Math

How ugh are monthly payments on 100000 for 36 mo, at 9% ?

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asked by Mark
  1. (100,000 * 1.09 * 3) / 36 = $_______

  2. I think we should use compound interest here.

    i = .09/12 = .0075
    let the payment be p

    p( 1 - 1.0075^-36)/.0075 = 100000
    p = $3179.97

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    posted by Reiny

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