<PRE><B>Question 1131201</B>
(r/n)=0.06/12=0.005
360 payments during life of loan.
PV=199000-19,900=179100 ANSWER a.  P=PV*(r/n)/(1-(1+(r/n)^(-nt))
P=.005*179100/(1-(1.005^360)
round at end
=$1073.79

for 7%, (r/n)=0.0058333, everything else is the same
P=$1191.56
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