How modest!

[jonah2.0]

Solve for the monthly payment R.
Then calculate directly with R(1.0062)^(-(300-74+1))
Or you could torture yourself (while verifying) with the so called retrospective method.
You really ought to read your book.

 

[Denis]

Solve for the monthly payment R.
Then calculate directly with R(1.0062)^(-(300-74+1))
Or you could torture yourself (while verifying) with the so called retrospective method.
You really ought to read your book.

Holy of Holies, Jonah, I'm impressed by your current modesty!

Before, you would have Latexed a huge formula, something like (unLatexed):

74thPA = R - i{A(1 + i)^73 - R[((1 + i)^73 - 1)] / i}
where:
74thPA = Principal amount at payment#74
R = Ai / (1 - (1 + i)^(-n)
i = .0744 / 12
n = 300
A = 142300

But then, easy for you to be modest: you've got lots to be modest about

 

[jonah2.0]

Last edited by stapel; Yesterday at 06:44 AM. Reason: Inserting URL that generated off-topic convo.

There is definitely no URL insertion this time.

 

[mmm4444bot]

There is definitely no URL insertion this time.

I still don't understand the issue; me thinks you'll have to spell it out, for moi.