msteresalyn1 msteresalyn1

01-07-2017
Mathematics

contestada

Use the future value formula to find the indicated value. FV = $ 5330 n=24; i=0.08; PMT=? PMT=$ (round to the nearest cent)

Respuesta :

Aliwohaish12 Aliwohaish12

01-07-2017

Hi there
The future value formula is
Fv=pmt [(1+r)^(n)-1)÷r]
Solve the formula for PMT
PMT=Fv÷[(1+r)^(n)-1)÷r]
So
PMT=5,330÷(((1+0.08)^(24)−1)÷(0.08))
PMT=79.83

Good luck!

Answer Link

Otras preguntas

which state of matter has the least amount of energy?

Find all powers of 4 in range 4 through 1,000

Which of the following statements is true concerning LUCA? (1) LUCA was a cell. (2) All life on Earth evolved from LUCA. (3) LUCA probably existed probably arou

Determine whether the sequence coverage or diverges. If it converges, give the limit. 48, 8, 4/3, 2/9, ...

Jim’s allowance is $1.20 per week. Stan’s is 25¢ per day. How long will they have to save, if they save both their allowances together, before they can get a m

The length of a diagonal of a cube with edge length 25cm

If a slope of a line is 2/0 is it 0 or undefined?

An airplane travels 3,260 kilometers in 4 hours. What is the airplane’s average speed?

you measure or observe two events to occur at the same time one nearby and one further away. Which one did you actually see first?

How many atoms are in 0.750 moles of zinc?