Find the periodic payment R required to amortize a loan of P dollars over t years with interest earned at the rate of r%/year compounded m times a year. Round your answer to the nearest cent.

P = 60,000, r = 10.5, t = 29, m = 10

a. R = $538.48
b. R = $304.53
c. R = $662.01
d. R = $604.66


c. R = $662.01

Mathematics

You might also like to view...

Solve the problem.John owns a hot dog stand. His profit, in dollars, is given by the equation  where x is the number of hot dogs sold. What is the most he can earn?

A. $49 B. $108 C. $87 D. $150

Mathematics

Find the volume of a rectangular box with length L, width W, and height H.L = 2.3 yd, W = 8.7 yd, H = 7 yd

A. 426.3 yd3  B. 140.07 yd3  C. 174.087 yd3  D. 37.03 yd3

Mathematics

Provide an appropriate response.Under what condition is this statement true for all x and y?   

Fill in the blank(s) with the appropriate word(s).

Mathematics

Provide an appropriate response.Simplify: 

A.
B.
C.
D. - 

Mathematics