question archive A loan of $P is taken out today at j12, to be repaid over n-months with monthly payments
A loan of $P is taken out today at j12, to be repaid over n-months with monthly payments
Subject:FinancePrice: Bought3
A loan of $P is taken out today at j12, to be repaid over n-months with monthly payments. You are given the following information: the principal repaid in the 32nd payment is $343.79, the principal repaid in the 41st payment is $376.00 and the outstanding balance after n - 1 monthly payments have been made is $576.77. What is the value of P
