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TVM
Present Value (PV):
Future Value (FV):
Interest Rate (I%, annual):
Number of Periods (n):
Compounding per Year (C/Y):
Payment (PMT):
Calculate
Suppose John takes out a loan of \(\dollar 25\,000\) to buy a motorcycle. The loan has an interest rate of \(4.8\pourcent\) per annum, compounded monthly, and he agrees to repay the loan over 6 years.
Calculate the periodic (monthly) payment John needs to make.
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1
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0
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dollars (round to the nearest integer)
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