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1. Calculating the monthly payment. (Note: The following instruction is from http://www.vertex42.com/ ExcelArticles/amortization-calculation.html) The formula for calculating the payment amount is shown below. r(1+r)" A = B (1+r)"-1 where A- payment Amount per period (monthly payment) B-initial Balance (loan amount) r- interest rate per period n-total number of payments or periods

1. Calculating the monthly payment. (Note: The following instruction is from http://www.vertex42.com/ ExcelArticles/amortization-calculation.html) The formula for calculating the payment amount is shown below. r(1+r)" A = B (1+r)"-1 where A- payment Amount per period (monthly payment) B-initial Balance (loan amount) r- interest rate per period n-total number of payments or periods

Computer Networking: A Top-Down Approach (7th Edition)
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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12:20 al 5Gº /2354341/viewContent/46295972/View v1-chapter2-1 -.. Question: 1) Implement this C program without the usage of arrays. Name this C program as loanCalc.c
Transcribed Image Text:12:20 al 5Gº /2354341/viewContent/46295972/View v1-chapter2-1 -.. Question: 1) Implement this C program without the usage of arrays. Name this C program as loanCalc.c
12:20 al 5Gº O d2/le/content/2354341/viewContent/46295972/View Maps O w1-chapter2-1 Appendix: 1. Calculating the monthly payment. (Note: The following instruction is from http://www.vertex42.com/ ExcelArticles/amortization-calculation.html) The formula for calculating the payment amount is shown below. r(1+r)" A = B (1+r)" – 1 where A= payment Amount per period (monthly payment) B= initial Balance (loan amount) r= interest rate per period n= total number of payments or periods Example 1: What would the monthly payment be on a 5-year, $20,000 car loan with a nominal 7.5% annual interest rate? B = $20,000 r = 7.5% per year / 12 months = 0.625%= 0.00625 per period n = 5 years * 12 months = 60 total periods 0.00625 (1+0.00625 )60 A = 20000 * = 400.76 (1+0.00625 )60-1
Transcribed Image Text:12:20 al 5Gº O d2/le/content/2354341/viewContent/46295972/View Maps O w1-chapter2-1 Appendix: 1. Calculating the monthly payment. (Note: The following instruction is from http://www.vertex42.com/ ExcelArticles/amortization-calculation.html) The formula for calculating the payment amount is shown below. r(1+r)" A = B (1+r)" – 1 where A= payment Amount per period (monthly payment) B= initial Balance (loan amount) r= interest rate per period n= total number of payments or periods Example 1: What would the monthly payment be on a 5-year, $20,000 car loan with a nominal 7.5% annual interest rate? B = $20,000 r = 7.5% per year / 12 months = 0.625%= 0.00625 per period n = 5 years * 12 months = 60 total periods 0.00625 (1+0.00625 )60 A = 20000 * = 400.76 (1+0.00625 )60-1
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