Find the payment necessary to amortize the loan. Do not round until the final answer. Then, round to the nearest cent.

$13,100; 12% compounded monthly; 48 monthly payments.

Question

Find the payment necessary to amortize the loan. Do not round until the final answer. Then, round to the nearest cent.

$13,100; 12% compounded monthly; 48 monthly payments.

anonymous · Answer

PMT = PVr/(1-(1+r)^-n) 
= 13,100*0.01/(1-1.01^-48) = 
= $344.97

anonymous · Answer

you round your equation answers than you have your answer $344.97

anonymous · Answer

Is this the same?


John bought a new computer for $1,650. He paid a $160 down payment and financed the rest for 1 year at an interest rate of 7%. Find the total interest paid on the given amortized loan assuming that John makes monthly payments. Do not round until the final answer. Then, round to the nearest cent.

anonymous · Answer

I replied to this question! :) You can see it in the questions you asked! But it's a bit the same.