rate positively ..
We have to use financial calculator to solve this | |||||
put in calculator | |||||
FV | 0 | ||||
PV | -23000 | ||||
I | 4.5%/12 | 0.375% | |||
N | 29*12 | 348 | |||
Compute PMT | $118.45 | ||||
Ans = | $118.45 |
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