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I did this in class and was wondering how did i get $587.13 as the monthly payment? INSTALLMENT NOTE: Principal: $25,000 Interest Rate: 6% Length
I did this in class and was wondering how did i get $587.13 as the monthly payment?
INSTALLMENT NOTE: Principal: $25,000 Interest Rate: 6% Length Note Issued: 11/1/21 per year 23.4% years $5 2:13 monthly Cho Installment Payment CALCULATION OF INSTALLMENT NOTE PAYMENT EXCEL: PMT Function Function Arguments PMT Rated 67.-12 -0.07% Nper 4+12 4% pr 25,000 Fv Installment Payment Type 'Input =- before selecting the PMT Step by Step Solution
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