treywainwright06 treywainwright06

12-12-2022
Mathematics

Answered

4. Given the formula above:
(a) Show that [tex]n=\frac{-log(1-\frac{P*r}{m}) }{log(1+r)}[/tex]

(b) Using (a), determine the number of months it would take to pay off a $150000 loan at a monthly 0.5% rate with $1000 payments.

Answer :

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