Solve the following problem. PV=$18320; n=107; i=0.031; PMT=?

albiguguiismx

albiguguiismx

Answered question

2022-09-07

Solve the following problem.
P V = $ 18320 ;   n = 107 ;   i = 0.031 ;   P M T = ?

Answer & Explanation

Grace Moses

Grace Moses

Beginner2022-09-08Added 13 answers

Given:
P V = $ 18320 n = 107 P M T = ? P V = P M T ( 1 ( 1 + i ) n i ) 18320 = ( P M T ) ( 1 ( 1 + 0.031 ) 107 0.031 ) P M T = 18320 × 0.031 1 ( 1.031 ) 107 P M T = $ 590.44

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