anonymous
  • anonymous
I need help with I think it's PMT the purchase cost is 250.000 and the interest rate is 6% the monthly year is 30 how do I find out what the monthly payments are? what the unpaid balance of the loan at the end of five years and the unpaid balance at the end of the 10 years help me please
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
Can someone help me please
anonymous
  • anonymous
So far I have PMT=250,000 (0.6) stuck after that
anonymous
  • anonymous
hmmm.... basic rate where t is in months:\[C(t) = Co(1+ rate)^t \]\[C(t) = 250,000(1+0.06)^t \]\[C(t) = 250,000(1.06)^t\] 5 years:\[C(5) =250,000(1.06)^5 = 334,556\]334,556 - 250,000 = 84,556.40 10 years:\[C(10) =250,000(1.06)^10 = 447,712\]447,712 - 250,00 = 197,712 Is that right?

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anonymous
  • anonymous
So where did the one come from I don't hve that in each year
anonymous
  • anonymous
it's from deriving the formula algebraically
yuki
  • yuki
pms?

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