Answer to Question #240593 in Civil and Environmental Engineering for Alan Enrico V Tuib

Question #240593
A debt of P15,000 with interest at 5% compounded monthly is to be amortized by equal monthly
payments over the next 3 years, the first due next month. Find the monthly payment and construct an
amortization schedule.
1
Expert's answer
2021-09-27T01:43:55-0400

"C_c=F_c+P_{o,m}"

"F_c= initial \\space debt"

and 

"p_{o,m}=A\/i"

"i=interest =15\\%"

"P_o,m=2777777.778"


"C_c=(15000\\times5)+2777777.778"


"C_c=352777.7789\\space answer"

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