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Find the payment made by the ordinary annually with the given present value. $83772 monthly payment...

Find the payment made by the ordinary annually with the given present value. $83772 monthly payment for 34 years. Interest rate is 4.9% compounded monthly. The payment is?

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Answer #1

The payment is 1,7099,632.65 or 1709633

Rate or interest rate = 4.9%

period = 34 years * 12 months = 408

monthly payment = 83772

inserting above values in the financial calculator in the present value function,the above present value is determined.

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