rjromero0801 rjromero0801

15-03-2020
Mathematics

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Eli is taking out $29520 loan for medical bills. The agreement was for a 5 year loan at 7.1% APR. What will be his monthly payment

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justneedanswers17 justneedanswers17

15-03-2020

Answer: $582.48

Step-by-step explanation: TVM Solver Equation

N = 60 (5 x 12 months)

I% = 7.1%

PV = $29,520

PMT = -$582.47881

FV = 0

P / Y = 12 (months)

C / Y = 12

PMT: BEGIN

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