Suppose that under the Plan of Repayment one should pay off the debt in a number of equal$$ end$-$of$-$month installments$($principal and$$ interest$).$ This is the customary way to pay off loans on$$ automobiles, house$$ mortgages, etc. A friend of yours has financed $$$$21$ comma $000$ on the purchase of a new$$ automobile, and the annual interest rate is $12\%(1\%$ per$$ month$).$

b$.$ How much interest and principal will be paid within three month of this$$ loan? Discrete$$ Compounding; iequals$1\%$

Single Payment

Uniform Series

Compound Amount Factor

Present Worth Factor

Compound Amount Factor

Present Worth Factor

Sinking Fund

Factor

Capital Recovery Factor

N

To Find F

Given P

$$F$/$P

To Find P

Given F

$$P$/$F

To Find F

Given A

$$F$/$A

To Find P

Given A

$$P$/$A

To Find A

Given F

$$A$/$F

To Find A

Given P

$$A$/$P

$1$

$1\mathrm{.}0100$

$0\mathrm{.}9901$

$1\mathrm{.}0000$

$0\mathrm{.}9901$

$1\mathrm{.}0000$

$1\mathrm{.}0100$

$2$

$1\mathrm{.}0201$

$0\mathrm{.}9803$

$2\mathrm{.}0100$

$1\mathrm{.}9704$

$0\mathrm{.}4975$

$0\mathrm{.}5075$

$3$

$1\mathrm{.}0303$

$0\mathrm{.}9706$

$3\mathrm{.}0301$

$2\mathrm{.}9410$

$0\mathrm{.}3300$

$0\mathrm{.}3400$

$4$

$1\mathrm{.}0406$

$0\mathrm{.}9610$

$4\mathrm{.}0604$

$3\mathrm{.}9020$

$0\mathrm{.}2463$

$0\mathrm{.}2563$

$5$

$1\mathrm{.}0510$

$0\mathrm{.}9515$

$5\mathrm{.}1010$

$4\mathrm{.}8534$

$0\mathrm{.}1960$

$0\mathrm{.}2060$

$6$

$1\mathrm{.}0615$

$0\mathrm{.}9420$

$6\mathrm{.}1520$

$5\mathrm{.}7955$

$0\mathrm{.}1625$

$0\mathrm{.}1725$

$7$

$1\mathrm{.}0721$

$0\mathrm{.}9327$

$7\mathrm{.}2135$

$6\mathrm{.}7282$

$0\mathrm{.}1386$

$0\mathrm{.}1486$

$8$

$1\mathrm{.}0829$

$0\mathrm{.}9235$

$8\mathrm{.}2857$

$7\mathrm{.}6517$

$0\mathrm{.}1207$

$0\mathrm{.}1307$

$9$

$1\mathrm{.}0937$

$0\mathrm{.}9143$

$9\mathrm{.}3685$

$8\mathrm{.}5660$

$0\mathrm{.}1067$

$0\mathrm{.}1167$

$10$

$1\mathrm{.}1046$

$0\mathrm{.}9053$

$10\mathrm{.}4622$

$9\mathrm{.}4713$

$0\mathrm{.}0956$

$0\mathrm{.}1056$

$11$

$1\mathrm{.}1157$

$0\mathrm{.}8963$

$11\mathrm{.}5668$

$10\mathrm{.}3676$

$0\mathrm{.}0865$

$0\mathrm{.}0965$

$12$

$1\mathrm{.}1268$

$0\mathrm{.}8874$

$12\mathrm{.}6825$

$11\mathrm{.}2551$

$0\mathrm{.}0788$

$0\mathrm{.}0888$

$13$

$1\mathrm{.}1381$

$0\mathrm{.}8787$

$13\mathrm{.}8093$

$12\mathrm{.}1337$

$0\mathrm{.}0724$

$0\mathrm{.}0824$

$14$

$1\mathrm{.}1495$

$0\mathrm{.}8700$

$14\mathrm{.}9474$

$13\mathrm{.}0037$

$0\mathrm{.}0669$

$0\mathrm{.}0769$

$15$

$1\mathrm{.}1610$

$0\mathrm{.}8613$

$16\mathrm{.}0969$

$13\mathrm{.}8651$

$0\mathrm{.}0621$

$0\mathrm{.}0721$

$16$

$1\mathrm{.}1726$

$0\mathrm{.}8528$

$17\mathrm{.}2579$

$14\mathrm{.}7179$

$0\mathrm{.}0579$

$0\mathrm{.}0679$

$17$

$1\mathrm{.}1843$

$0\mathrm{.}8444$

$18\mathrm{.}4304$

$15\mathrm{.}5623$

$0\mathrm{.}0543$

$0\mathrm{.}0643$

$18$

$1\mathrm{.}1961$

$0\mathrm{.}8360$

$19\mathrm{.}6147$

$16\mathrm{.}3983$

$0\mathrm{.}0510$

$0\mathrm{.}0610$

$19$

$1\mathrm{.}2081$

$0\mathrm{.}8277$

$20\mathrm{.}8109$

$17\mathrm{.}2260$

$0\mathrm{.}0481$

$0\mathrm{.}0581$

$20$

$1\mathrm{.}2202$

$0\mathrm{.}8195$

$22\mathrm{.}0190$

$18\mathrm{.}0456$

$0\mathrm{.}0454$

$0\mathrm{.}0554$

$21$

$1\mathrm{.}2324$

$0\mathrm{.}8114$

$23\mathrm{.}2392$

$18\mathrm{.}8570$

$0\mathrm{.}0430$

$0\mathrm{.}0530$

$22$

$1\mathrm{.}2447$

$0\mathrm{.}8034$

$24\mathrm{.}4716$

$19\mathrm{.}6604$

$0\mathrm{.}0409$

$0\mathrm{.}0509$

$23$

$1\mathrm{.}2572$

$0\mathrm{.}7954$

$25\mathrm{.}7163$

$20\mathrm{.}4558$

$0\mathrm{.}0389$

$0\mathrm{.}0489$

$24$

$1\mathrm{.}2697$

$0\mathrm{.}7876$

$26\mathrm{.}9735$

$21\mathrm{.}2434$

$0\mathrm{.}0371$

$0\mathrm{.}0471$

$25$

$1\mathrm{.}2824$

$0\mathrm{.}7798$

$28\mathrm{.}2432$

$22\mathrm{.}0232$

$0\mathrm{.}0354$

$0\mathrm{.}0454$

$30$

$1\mathrm{.}3478$

$0\mathrm{.}7419$

$34\mathrm{.}7849$

$25\mathrm{.}8077$

$0\mathrm{.}0287$

$0\mathrm{.}0387$

$36$

$1\mathrm{.}4308$

$0\mathrm{.}6989$

$43\mathrm{.}0769$

$30\mathrm{.}1075$

$0\mathrm{.}0232$

$0\mathrm{.}0332$

$40$

$1\mathrm{.}4889$

$0\mathrm{.}6717$

$48\mathrm{.}8864$

$32\mathrm{.}8347$

$0\mathrm{.}0205$

$0\mathrm{.}0305$

$48$

$1\mathrm{.}6122$

$0\mathrm{.}6203$

$61\mathrm{.}2226$