Jaylen & Isaiah purchased an item valued at $253,000. They paid $45,540 down and financed the rest at 2.21% compounded monthly. To reduce the amount owing to $59,092 at the end of 5 years, what size of equal payments must Jaylen & Isaiah make at the end of each three months? Enter the present value as a positive value in the PV box below. Enter PMT and FV as positive or negative values based on PV being positive. Report PMT accurate to the nearest cent. P/Y = C/Y= N= I/Y= PV = $ PMT = $ FV = $ The size of each equal payment is (enter a positive value) $ Submit Question

Jaylen & Isaiah purchased an item valued at $253,000. They paid $45,540 down and financed the rest at 2.21% compounded monthly. To reduce the amount owing to $59,092 at the end of 5 years, what size of equal payments must Jaylen & Isaiah make at the end of each three months? Enter the present value as a positive value in the PV box below. Enter PMT and FV as positive or negative values based on PV being positive. Report PMT accurate to the nearest cent. P/Y = C/Y= N= I/Y= PV = $ PMT = $ FV = $ The size of each equal payment is (enter a positive value) $ Submit Question

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

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Mr. Y invested $1,000 during the year 2009. After ten years, he sold the investment for $ 1,600 in 2019. Calculate the return on the investment if compounded yearly. A. 4.11% B. 4.21% C. 4.01% D. 4.81% A loan of P5,000 is made for a period of 15 months, at a simple inter rate of 15%, what future amount is due at the end of the loan period? A. 5,937.50 B. 5,873.20 C. 5,712.40 D. 5.690.12
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