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Help 23

 Nov 1, 2018
 #1
avatar+94221 
+2

 

 

Monthly interest rate  =  .035 / 12  = 7/2400

 

Five years

 

n  = 60

 

33000 (7/2400)   ( 1 + 7/2400)^ 60  /  [ ( 1 + 7/2400)^60 - 1 ]  ≈ $600.33 / mo

 

 

Six years

 

n = 72

 

33000 (7/2400)   ( 1 + 7/2400)^ 72  /  [ ( 1 + 7/2400)^72 - 1 ]  ≈ $508.81 / mo

 

 

cool cool cool

 Nov 1, 2018

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