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Unformatted text preview: R = Annual Interest Rate (i.e. in description above R=0.05) MP = Monthly Payment derive the monthly payment MP as a function of B and R by setting the net present value of the cash-flow of monthly payments of size MP for the term of the loan equal to the loan amount B. Hint: Use the relationship 1 1 1--= + = x x x x n n j j B. Calculate MP for the case study description above using the relationship you derived under A....
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This note was uploaded on 04/04/2012 for the course CIVIL ENG CIV 125 taught by Professor Prof.chang during the Summer '11 term at International School of Management, New York.
- Summer '11