ou plan to make a down payment of $20,000 on a house in seven years. If...
ou plan to make a down payment of $20,000 on a house in seven years. If the interest rates are 3% annually, compute the annual, equal amount of payments that are made to reach this goal.
Homework Answers
Let P be the yearly payment required
FV = 20000,
i= 3% = 0.03
n = 7 years
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