Monthly Payback formula

Monthly Payback formula M = (1+r)nr (1+r)n 1 P where M = monthly payment P = principal r = i=12 = monthly interest rate n = number of months 3. Calculator Tip Storethequantity(1+r)n inthememoryofyourcalculator. The Monthly Payback Equation then becomes M = Recall Memory r = Recall Memory 1 P On a graphing calculator, store (1+r)n in x. 1. 2 4. Buying a Car You want to buy a … ................
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