Find the present vaue PV of a loan with an annual nterest rate r and periodic payments R for a term of t years, with payments made and nterest charged 12 times per year. r=7.5%, R=$697.97, t=5

Silvina2b

Silvina2b

Answered question

2022-08-02

Find the present vaue PV of a loan with an annual nterest rate r and periodic payments R for a term of t years, with payments made and nterest charged 12 times per year.
r=7.5%, R=$697.97, t=5

Answer & Explanation

Marlie Frazier

Marlie Frazier

Beginner2022-08-03Added 14 answers

Given that r=7.5%, R=$697.97, t=5
we have to find the present value
we know that present value = 0 5 R e n d t
= 697.97 0 5 e 0.075 t d t
=2910.1719556

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