document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1096539>Question 1096539</A>: <I><SPAN STYLE=\"word-break: break-all;\">  Determine the periodic payments PMT on the given loan or mortgage. HINT [See Example 5.] (Round your answer to the nearest cent.)<BR>\n" );
document.write( "$90,000 borrowed at 2% for 10 years, with monthly payments  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #711000 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=711000\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> present value = 90,000<BR>\n" );
document.write( "number of years = 10<BR>\n" );
document.write( "percentage rate per year = 2%<BR>\n" );
document.write( "payments are made monthly.\r<BR>\n" );
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document.write( "number of months is 10 * 12 = 120<BR>\n" );
document.write( "percentage rate per month = 2/12 = .16666667<BR>\n" );
document.write( "payments are madee at the end of each month.\r<BR>\n" );
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document.write( "use a financial calculator with discrete compounding to get you answer.\r<BR>\n" );
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document.write( "one such calculator can be found here:\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">https://arachnoid.com/finance/</a>\r<BR>\n" );
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document.write( "your inputs are:\r<BR>\n" );
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document.write( "present value = 90,000<BR>\n" );
document.write( "future value = 0<BR>\n" );
document.write( "number of time periods = 120<BR>\n" );
document.write( "payment amount is left alone since this is what you are going to calculate.<BR>\n" );
document.write( "interest rate per time period = .16666667<BR>\n" );
document.write( "payment made at end of time period.\r<BR>\n" );
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document.write( "you then select pmt and the calculator will tell you what the monthly payment is going to be.\r<BR>\n" );
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document.write( "your monthly payment will be 828.12.\r<BR>\n" );
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document.write( "here's what the inputs and output of this calculator looks like.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2017/100701.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "if you need formulas, most of the formulas you might require can be found here.\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes\" target = \"_blank\">https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes</a>\r<BR>\n" );
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document.write( "any questions, give me a shout.\r<BR>\n" );
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