help on my home work

label Calculus
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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?

Oct 3rd, 2015

Thank you for the opportunity to help you with your question!

The formula to calculate loan repayment is



Lets equate with what we know?

p= 8/100(20,000)/ 1- (1+8/100)^-12 x 4

p=/1- (1.08)^-48

p=1600/ 1- 0.024869081

p=1600/0.975131

p= $1640.805



Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 15th, 2015

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Oct 3rd, 2015
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