# pro 3 - PV=\$25000 PMT=\$-337.20 FV=0 D It would have taken...

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Chris Heaton 7/12/2009 Finite Math Project Three Mail Solicitation Home Equity Loan A.) At the end of ten years \$ 25000.35 will still be owed on the loan. N=120 I=10.49 PV=\$25000 PMT=\$-218.54 FV=\$25000.35 B.) In ten years \$26224.80 will have been paid towards the home equity loan. 218.54 X 12 X 10 = 26224.80 C.) To pay off the loan in 10 years, the payment would need to be \$337.20 per month. N=120 I=10.49

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Unformatted text preview: PV=\$25000 PMT=\$-337.20 FV=0 D.) It would have taken 89.75 months to pay back the bank at 15% N=89.75 I=15% PV=\$25000 PMT=\$-218.54 FV=\$0 It would have taken 53.93 months to pay back the auto loan at 15% N=53.93 I=15% PV=\$25000 PMT=\$-218.54 FV=\$25000.35 It would have taken 40.78 months to pay back the department store at 15% N=40.78 I=15% PV=\$25000 PMT=\$-218.54 FV=\$25000.35...
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## This note was uploaded on 11/03/2009 for the course BIO 102 taught by Professor Carpenter during the Spring '08 term at Alaska Anch.

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pro 3 - PV=\$25000 PMT=\$-337.20 FV=0 D It would have taken...

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