Question
ASSUMING MONTHLY PAYMENTS Let the rate compounded monthly be r Monthly payment be M Loan amount be L Outstanding balance after 2 years=L*(1+r/12)^(12*2)-M/(r/12)*((1+r/12)^(12*2)-1) So L
ASSUMING MONTHLY PAYMENTS Let the rate compounded monthly be r Monthly payment be M Loan amount be L Outstanding balance after 2 years=L*(1+r/12)^(12*2)-M/(r/12)*((1+r/12)^(12*2)-1) So L being 16,185 M being 294 and r being 3.44%i am typing it in and getting a negative 92,201.68
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Competing On Analytics The New Science Of Winning
Authors: Thomas H Davenport, Jeanne G Harris, Gary Loveman
1st Edition
1422103323, 9781422103326
