document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1187678>Question 1187678</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose the monthly amortization for a loan of a certain company is 1,000,000.00 Php with an interest rate of 15% a year.\r<BR>\n" );
document.write( "\n" );
document.write( "1.) What is the monthly amortization for a period of 7 years?<BR>\n" );
document.write( "2.) What is the interest earned for seven years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #818707 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=818707\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the loan is for 1,000,000 php.<BR>\n" );
document.write( "the yearly interest rate is 15%.<BR>\n" );
document.write( "the number of years is 7.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "the interest rate is compounded monthly.<BR>\n" );
document.write( "the time periods are in months.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "the interest rate per month is 15/12 = 1.25%.<BR>\n" );
document.write( "the number of months is 7 * 12 = 84.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "use a financial calculator, such as the ti-ba-ii to get a payment of 19296.75474 at the end of each month.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "this is equal to 19296.75 rounded to the nearest penny.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "using the online calculator at <a  rel=nofollow HREF= \"https://arachnoid.com/finance/index.html\" target = \"_blank\">https://arachnoid.com/finance/index.html</a>, i get the same answer rounded to the nearest penny.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "here's what the output of the calculator looks like.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2021/111304.jpg\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "inputs are everything but pmt.<BR>\n" );
document.write( "output is pmt.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );