document.write( "Question 168531: can someone please help me with this:\r
\n" ); document.write( "\n" ); document.write( "Find the payment necessary to amortize the loan.
\n" ); document.write( "$12,100; 12% compounded monthly; 48 monthly payments\r
\n" ); document.write( "\n" ); document.write( "$313,57
\n" ); document.write( "$318,64
\n" ); document.write( "$1458,32
\n" ); document.write( "$318.87
\n" ); document.write( "

Algebra.Com's Answer #124291 by jojo14344(1513)\"\" \"About 
You can put this solution on YOUR website!
Okay, we have Amortization formula: \"P=A%281-%281%2B%28i%2Fm%29%29%5E%28-nm%29%29%2Fi\" ------------> EQN 1
\n" ); document.write( "Given---->\"system%28P=Principal%2CA=Amortization%2Ci=interest%2Cn=years%2Cm=compundedPeryear%29\"
\n" ); document.write( "Subst.
\n" ); document.write( "\"12100=A%281-%281%2B%280.12%2F12%29%29%5E%28-4%2A12%29%29%2F%280.12%2F12%29\"
\n" ); document.write( "\"12100=A%281-%281.01%29%5E-48%29%2F0.01\", cross multiply
\n" ); document.write( "\"12100%2A0.01=A%281-0.62026%29\"
\n" ); document.write( "\"121=A%280.379739%29\" ----> \"cross%28121%29318.64%2Fcross%280.379739%29=A%2Across%280.379739%29%2Fcross%280.379739%29\"
\n" ); document.write( "\"highlight%28A=318.64%29\", Answer
\n" ); document.write( ".
\n" ); document.write( "thank you,
\n" ); document.write( "Jojo
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