If you where to borrow 8,600 over five years at 14 compounded monthly what would be your monthly payment First, calculate Present value factor 1 (1 i) n Next, calculate the PV annuity factor 1 Present Value Factor i Lastly, solve by dividing CF by the PV annuity factor

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If you where to borrow 8,600 over five years at .14 compounded monthly what would be your monthly payment? First, calculate Present value factor =

If you where to borrow 8,600 over five years at .14 compounded monthly what would be your monthly payment?

First, calculate Present value factor = 1/(1+i)ⁿ

Next, calculate the PV annuity factor = 1 - Present Value Factor/ i

Lastly, solve by dividing CF by the PV annuity factor.

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