Working With Formulas MAT144 - Protected Vint Sean Abra Sanche Insert Draw Page Layout Formulas Data Review View Help w techreutes from the Internet can contain viruset. Unless you need to edit it's safer to stay in Protected Viww. Enable Editing Recovery the following fles. Save to keep Template Trad 202 ated in the 0854 If an amount Pis contributed at the end of each of n periods per year and the balance earns interest at an A(t) =P*{{1)^(nt)-11/6/6) annual percentage rate of r, the total amount A accrued after t years is given by the right hand side of the formula 22 Sample problem: An amount of $250 is contributed at the end of each month, and the balance earns interest at an APR of 6.2%. What is the total 23 amount accrued after 7 years? 24 Inputs Formatting instructions: 25 Dollar amounts format as Currency with 2 decimal places 26 Rateformat as Percentage with 1 decimal place 27 Application of the formula to the inputs Periods/Years: format at Number with decimal places 28 29 Loan Payment Formula Symbolic Formula in Excel Format Interpretation 30 The amount PMT that must be paid a times per year for years to pay off a loan principal amount of Patan PMT=P*/)/(1-(1 t/)-nt)) APR of ris given by the right-hand side of the formula Sample problem: What is the monthly payment amount needed to pay off a loan principal amount of $10,000 over 4 years, given an interest rate 32 of 7.357 33 Inputs Formatting instructions: Dollar amounts formatas Currency with 2 decimal places 35 Rate: format as Percentage with 1 decimal place 36 Application of the formula to the inputs: Periods/Years format at Number with a decimal places 37 Sheet1 Clote 610 PM 1127/ O C ype here to search Working With Formulas MAT144 - Protected Vint Sean Abra Sanche Insert Draw Page Layout Formulas Data Review View Help w techreutes from the Internet can contain viruset. Unless you need to edit it's safer to stay in Protected Viww. Enable Editing Recovery the following fles. Save to keep Template Trad 202 ated in the 0854 If an amount Pis contributed at the end of each of n periods per year and the balance earns interest at an A(t) =P*{{1)^(nt)-11/6/6) annual percentage rate of r, the total amount A accrued after t years is given by the right hand side of the formula 22 Sample problem: An amount of $250 is contributed at the end of each month, and the balance earns interest at an APR of 6.2%. What is the total 23 amount accrued after 7 years? 24 Inputs Formatting instructions: 25 Dollar amounts format as Currency with 2 decimal places 26 Rateformat as Percentage with 1 decimal place 27 Application of the formula to the inputs Periods/Years: format at Number with decimal places 28 29 Loan Payment Formula Symbolic Formula in Excel Format Interpretation 30 The amount PMT that must be paid a times per year for years to pay off a loan principal amount of Patan PMT=P*/)/(1-(1 t/)-nt)) APR of ris given by the right-hand side of the formula Sample problem: What is the monthly payment amount needed to pay off a loan principal amount of $10,000 over 4 years, given an interest rate 32 of 7.357 33 Inputs Formatting instructions: Dollar amounts formatas Currency with 2 decimal places 35 Rate: format as Percentage with 1 decimal place 36 Application of the formula to the inputs: Periods/Years format at Number with a decimal places 37 Sheet1 Clote 610 PM 1127/ O C ype here to search
