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lildebbie55
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i have a loan of 50,000, interest rate of 9%, which compounds monthly for 7 years. what is the monthly payment. please show the formula and variable to calculate the payment. I have been told the answer is 804.45, but I dont know how to come up with that answer
 one year ago
 one year ago
lildebbie55 Group Title
i have a loan of 50,000, interest rate of 9%, which compounds monthly for 7 years. what is the monthly payment. please show the formula and variable to calculate the payment. I have been told the answer is 804.45, but I dont know how to come up with that answer
 one year ago
 one year ago

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lildebbie55 Group TitleBest ResponseYou've already chosen the best response.0
Buying a house for $50000 interest rate is 9% which compounds monthly for 7 years, I use this formula PV =PMT [(1(1+i)n)/i] what is the unpaid loan balance after the first and 6th year?
 one year ago

lildebbie55 Group TitleBest ResponseYou've already chosen the best response.0
Thank you for all the help and please show how you did it
 one year ago

Brad1996 Group TitleBest ResponseYou've already chosen the best response.1
@amistre64
 one year ago

Brad1996 Group TitleBest ResponseYou've already chosen the best response.1
@ParthKohli
 one year ago

Brad1996 Group TitleBest ResponseYou've already chosen the best response.1
one of these guys should be able to help you out :)
 one year ago

lildebbie55 Group TitleBest ResponseYou've already chosen the best response.0
How do I get to the answer, I'm clicking on everything and don't see it
 one year ago

lildebbie55 Group TitleBest ResponseYou've already chosen the best response.0
Thank you Brad :D
 one year ago
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