Question 1074811
A = PMT((1+APR/n)^(nY)-1)/(APR/n)
A = 100((1+0.0525/12)^(12*5)/(0.0525/12)
Solve using your calculator, one step at a time: 0.0525/12; the result +1, the result to the power of 12*5, the result divided by 0.0525/12, and finally the result times 100.
You should get:
A = 29,701
Happy learning,
John