Find the monthly house payments necessary to amortize a 10.8% loan of $172,900 over 15 years.The payment size is $(Round to the nearest cent.)***

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Description: Find the monthly house payments necessary to amortize a 10.8% loan of $172,900 over 15 years.The payment size is $(Round to the nearest cent.)***

Payment per period can be calculated using PMT function in excel.PMT(rate, nper, pv, [fv],…

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Find the monthly house payments necessary to amortize a 10.8% loan of $172,900 over 15 years.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 6FPE

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