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anonymous
 5 years ago
A debt of $10,000 is to be amortized by equal payments of $400 at the end of each month, plus a final payment after the last $400 payment is made. If the interest is at the rate of 1% compounded monthly (the same as an annual rate of 12% compounded monthly),
i. Write a discrete dynamical system that models the situation.
ii. Construct a table showing the amortization schedule for the required payments.
iii. Find a solution for the system.
anonymous
 5 years ago
A debt of $10,000 is to be amortized by equal payments of $400 at the end of each month, plus a final payment after the last $400 payment is made. If the interest is at the rate of 1% compounded monthly (the same as an annual rate of 12% compounded monthly), i. Write a discrete dynamical system that models the situation. ii. Construct a table showing the amortization schedule for the required payments. iii. Find a solution for the system.

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0would it be \[A _{n}=10,000(1+ r)^{n1}400\]
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