document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=45425>Question 45425</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0534465390/algebrahomeworkh>Finite math</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> A company borrows $75,000 which is to be repaid with equal payments semiannual for 10 years.  The interest rate is 10%.  Find the semiannual payments.\r<BR>\n" );
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document.write( "After looking at the PVIFA Table I came up with $3,750.00.  This question is giving me trouble also.  Thanks so much for any help. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #30189 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=30189\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A company borrows $75,000 which is to be repaid with equal payments semiannual for 10 years.  The interest rate is 10%.  Find the semiannual payments.\r<BR>\n" );
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document.write( "Present Value= (periodic payment)[1-(1+i)-n]/i ,where i is the periodic <BR>\n" );
document.write( "payment interest and n is the total number of periodic payments.\r<BR>\n" );
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document.write( "75000=PP[1-(1+0.05)^-20]/0.05<BR>\n" );
document.write( "[0.05(75000)]/[1.05)^-20]= pp<BR>\n" );
document.write( "3750/0.99969927...=pp<BR>\n" );
document.write( "Periodic payment = $3750.00\r<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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