Question 168938
Okay, we're looking for series of EQUAL payments.Then
{{{F=A((1+i)^n-1)/i)}}}
where-----> {{{system(F=TotalSum,A=EqualPayment,i=interest,n=years)}}}
Then,
{{{39000=A((1+.08)^12-1)/.08)}}}, cross multiply
{{{39000*0.08=A(2.5181701-1)=A(1.5181701)}}}
{{{3120=A(1.5181701)}}} ----> {{{cross(3120)2055.11/cross(1.5181701)=A*cross(1.5181701)/cross(1.5181701)}}}
{{{highlight(A=2055.11)}}}, Answer
Thank you,
Jojo