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anonymous

  • 5 years ago

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

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  1. anonymous
    • 5 years ago
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    Can someone help me please

  2. anonymous
    • 5 years ago
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    So far I have PMT=250,000 (0.6) stuck after that

  3. anonymous
    • 5 years ago
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    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?

  4. anonymous
    • 5 years ago
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    So where did the one come from I don't hve that in each year

  5. anonymous
    • 5 years ago
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    it's from deriving the formula algebraically

  6. Yuki
    • 5 years ago
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    pms?

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