amberpublow7
19.10.2021 •
Mathematics
Help please, im confused
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Ответ:
the monthly payment is $636.02
Step-by-step explanation:
The calculation of the monthly amount deposited i.e. PMT is shown below:
GIven data
NPER = 15 × 12 months = 180
RATE = 5% ÷ 12 = 0.4167%
PV = $0
FV = $170,000
based on the above information
The formula is given below:
= PMT(RATE;NPER;PV;FV;TYPE)
After applying the given formula, the monthly payment is $636.02