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FV =$5707: N=25: I=0.08:  PMT=?

 Feb 26, 2017
 #1
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FV =$5707: N=25: I=0.08:  PMT=?

PMT=$78.06

 Feb 26, 2017
 #2
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FV=P{[1 + R]^N - 1/ R}

5,707 = P{[1 +0.08]^25 -1 / 0.08}

5,707 = P x    73.10594...

PMT =5,707 / 73.10594...

PMT =$78.06

 Feb 26, 2017

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