Question
Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r %/year
Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.)
P = 50,000, r = 4, t = 20, m = 6
P = 80,000, r = 9.5, t = 20, m = 12
S = 50,000, r = 6, t = 7, m = 6
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Accounting For Managers Interpreting Accounting Information For Decision Making
Authors: Paul M. Collier
5th Edition
111900294X, 978-1119002949
