the question is: determine the payments on the amortized loan of the car for the given value of PV=$20,000, r=8%, t= 4 years, and k=12
how do I do this?
Thank you for the opportunity to help you with your question!
The formula to calculate loan repayment is
p= 8/100(20,000)/ 1- (1+8/100)^-12 x 4
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