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Find the payment made by the ordinary annuity with the given present value. $91,072; monthly payments for 34 years; interest rate is 3.3%, compounded
Find the payment made by the ordinary annuity with the given present value. $91,072; monthly payments for 34 years; interest rate is 3.3%, compounded monthly The payment is $ (Simplify your answer. Round to the nearest cent as needed.) Fritz Benjamin buys a car costing $21,800. He agrees to make payments at the end of each monthly period for 7 years. He pays 9.6% interest, compounded monthly. (a) What is the amount of each payment? (b) Find the total amount of interest Fritz will pay. (a) Fritz's monthly payment is $ (Round to the nearest cent as needed.) A student borrows $51,300 at 9.6% compounded monthly. Find the monthly payment and total interest paid over a 20 year payment plan. The payment size is $ . (Round to the nearest cent as needed.)
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