Change yearly rate into monthly rate using w/ or w/out financial calculator? - principal and interest calculator
Hello
In attempting to solve a funding HW:
A one-year loan of $ 800 at 14% is added to principal and interest payments. Interest is paid monthly in 12 equal installments Monty. What is the monthly payment?
I know the answer is) $ 76 (at the solution of their answers. I can not imagine how and why the sentence of 2%. I do not know how to change the year to 14% of the monthly rate of 2%. Please help!
Sunday, January 24, 2010
Principal And Interest Calculator Change Yearly Rate Into Monthly Rate Using W/ Or W/out Financial Calculator?
2 comments:
Since it is a question of the task, which is the appropriate place to ask on Yahoo Answers to the formation of reference and homework help. Why there?
Since it is a question of the task, which is the appropriate place to ask on Yahoo Answers to the formation of reference and homework help. Why there?
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