Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest cent.) $400,000 borrowed at 8% for 9 years, with quarterly payments X PMT= $15686

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
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Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest cent.)
$400,000 borrowed at 8% for 9 years, with quarterly payments
PMT= $ 15686
X
Transcribed Image Text:Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest cent.) $400,000 borrowed at 8% for 9 years, with quarterly payments PMT= $ 15686 X
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