SOLUTION: Substitute A = 225,000, r/n= 0.0829/12, and nt = 120 into the equation and evaluate. Round your answer to the nearest cent. PMT = A((r/n)/1-(1+(r/n)^-nt

Algebra ->  Finance -> SOLUTION: Substitute A = 225,000, r/n= 0.0829/12, and nt = 120 into the equation and evaluate. Round your answer to the nearest cent. PMT = A((r/n)/1-(1+(r/n)^-nt       Log On


   

Question 1134283: Substitute A = 225,000, r/n= 0.0829/12, and nt = 120 into the equation and evaluate. Round your answer to the nearest cent.
PMT = A((r/n)/1-(1+(r/n)^-nt

Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!
Substitute
A+=+225000,
r%2Fn=+0.0829%2F12, and
+nt+=+120 into the equation and evaluate

PMT=+A%28%28r%2Fn%29%2F%281-%281%2B%28r%2Fn%29%29%5E%28-nt+%29%29%29

PMT=+225000%28%280.0829%2F12%29%2F%281-%281%2B0.0829%2F12%29%5E-120%29%29

PMT=+225000%280.00690833%2F%281-%281%2B0.00690833%29%5E%28-120+%29%29%29

PMT=+225000%280.00690833%2F%281-%281.00690833%29%5E%28-120+%29%29%29
PMT=+225000%280.00690833%2F%281-0.43773165391%29%29
PMT=+225000%280.00690833%2F0.56226834609%29
PMT=+225000%280.0122865355093%29
PMT=+2764.4704895925
PMT=+2764.47