anyone good at Finite math? TI-84 calculator ?

Question

anonymous · Answer

im good with Ti-84 but not at finite math though :DDD

anonymous · Answer

aw okay thank you. haha I just can;t figure out what to plug in for my problem

anonymous · Answer

A group of private investors purchased a condominium complex for $4 million. They made an initial down payment of 12% and obtained financing for the balance. If the loan is to be amortized over 12 years at an interest rate of 13% per year compounded quarterly, find the required quarterly payment.

anonymous · Answer

$ to be financed = 0.88*$4 millon = $3,520,000 
r = 0.0325/qr (0.13/4), n = 48 qrs (12years*4 quarters) 

PMT = PVr/(1-(1+r)^-n) = $3,520,000*.0325/(1-1.0325^-48) = $114400/0.784584423=$145,809.6753 per quarter.
Therefore the quarterly payment is $145,809.6753

anonymous · Answer

you are awesome thanks!!!!

anonymous · Answer

you're welcome :DDD

anonymous · Answer

you're very welcome