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please, 16, 19 and 24 In Problems 1526, use formula (5) or (6) to solve each problem. 15. n = 30; i = 0.04; PMT
please, 16, 19 and 24 In Problems 1526, use formula (5) or (6) to solve each problem. 15. n = 30; i = 0.04; PMT = $200; PV = ? 16. n = 40; i = 0.01; PMT = $400; PV = ? 17. PV = $40,000; n = 96; i = 0.0075; PMT = ? I 18. PV = $14,000; n = 72; i = 0.005; PMT = ? 19. PV = $5,000; i = 0.01; PMT = $200; n = ? 20. PV = $20,000; i = 0.0175; PMT = $500; n = ? A 21. PV = $9,000; PMT = $600; n = 20; i = ? (Round answer to three decimal places.) AJ 22. PV = $12,000; PMT = $400; n = 40; i = ? (Round answer to three decimal places.) 23. Explain what is meant by the present value of an ordinary annuity. 24. Solve the present value formula (5) for n. 25. Explain how an ordinary annuity is involved when you take out an auto loan from a bank. 26. Explain why the last payment in an amortization schedule might differ from the other payments
please, 16, 19 and 24
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