document.write( "Question 1198848: Determine the periodic payments on the given loan or mortgage.(Round your answer to the nearest cent.)
\n" ); document.write( "$1,000,000 borrowed at 7% for 25 years, with quarterly payments\r
\n" ); document.write( "\n" ); document.write( "PMT=
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Algebra.Com's Answer #832505 by Theo(13342)\"\" \"About 
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use the calculator at https://arachnoid.com/finance/ to solve this.
\n" ); document.write( "inputs to the calculator are:
\n" ); document.write( "pv = 1,000,000 dollars
\n" ); document.write( "fv = 0
\n" ); document.write( "np = 25 * 4 = 100 quarters
\n" ); document.write( "ir = 7% per year / 4 = 1.75% per quarter
\n" ); document.write( "payment is made at the end of each quarter.
\n" ); document.write( "output is:
\n" ); document.write( "pmt = -21,248.80 at the end of each quarter.\r
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\n" ); document.write( "\n" ); document.write( "positive amount is what your receive.
\n" ); document.write( "negative amount is what you spend.
\n" ); document.write( "you received a loan of 1 million dollars and you have to pay out 21,248.80 dollars at the end of each quarter for 100 quarters (25 years).\r
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\n" ); document.write( "\n" ); document.write( "here's what the output of the calculator looks like.\r
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