Mathematics, 13.12.2019 17:31, Satoetoe24
Determine the periodic payments pmt on the loan given. hint [see example 6.] (round your answer to the nearest cent.)
$200,000 borrowed at 5% for 9 years, with quarterly payments
Answers: 2
![\bf \qquad \qquad \textit{Amortized Loan Value} \\\\ pymt=P\left[ \cfrac{\frac{r}{n}}{1-\left( 1+ \frac{r}{n}\right)^{-nt}} \right] \\\\\\ \qquad \begin{cases} P= \begin{array}{llll} \textit{original amount}\\ \end{array}\to & \begin{array}{llll} 200000 \end{array}\\ pymt=\textit{periodic payments}\\ r=rate\to 5\%\to \frac{5}{100}\to &0.05\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{quarterly, thus 4 times} \end{array}\to &4\\ t=years\to &9 \end{cases}](/tpl/images/0417/2423/a3488.png)
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Determine the periodic payments pmt on the loan given. hint [see example 6.] (round your answer to t...
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