Ans $ 129.85 each month
P = | Regular Payments |
PV = | Loan Amount |
r = | rate of interest |
n = | no of periods |
P = | r (PV) |
1 - (1 + r )-n | |
P = | (17%/12)*4500 |
1 - (1 / (1 + 17%/12)^48)) | |
P = | 63.75 |
0.49095983 | |
P = | 129.85 |
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