document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=548310>Question 548310</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help, Payment interval 1 month, Term 7yrs 3 months, Interest rate 8.5% compounding frequency monthly. Present Value due 16,309.78. I need to find the periodic payment. The answer is 250.00. But I need help in understanding the equations. This is what I've been given PMTx((1-(1+i)-n)/i)) x (1+i)<BR>\n" );
document.write( "How do I calculate PMT?  These are the other numbers that I've calculated<BR>\n" );
document.write( "i=.085/12=.007083333?? n=7+3/12=7.25x12=87 Help please<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #356960 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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/cgi-bin/show-face.mpl?user=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=356960\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> PV=	16309.78																	<BR>\n" );
document.write( "periods	87																	<BR>\n" );
document.write( "Interest	8.50%			0.007				<BR>\n" );
document.write( "(p*I(1+I)n)/((1+I)^n-1))<BR>\n" );
document.write( "16309.78*0.007(1+0.007)^87)/((1+0.007)^87-1)	<BR>\n" );
document.write( "																		<BR>\n" );
document.write( "(16309.78*0.007*1.848)/(1.85-1)   								<BR>\n" );
document.write( "213.49/0.85																<BR>\n" );
document.write( "251.77	=PMT																	<BR>\n" );
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