Find the monthly payment that will yield the given future value. (Round your answer to the...

Question

Question

Find the monthly payment that will yield the given future value. (Round your answer to the nearest cent.)

$105,000 at 9 1/4

% interest for thirty-two years; ordinary annuity

Answer 1

Answer #1

Answer is $44.77

FIND PMT

Rate=9.25%/12

NPER=32*12=384

FV=$105000

PV=0

=PMT(9.25%/12,384,0,-105000,0)=$44.77

Answer 2

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