Respuesta :
Answer:
The correct answer to the following question will be "70.56".
Step-by-step explanation:
The given values are:
Loan requires, PV = $100,000
Years = 20
Number of months, n = 240
Rate interest = 4.90000%
Monthly rate, r = 0.408333%
Monthly rental payment = $725
As we know,
[tex]PV=PMT\times (\frac{1}{r})\times [1-[\frac{1}{(1+r)^n}]][/tex]
On putting the values in the above formula, we get
⇒ [tex]100000=PMT\times (\frac{1}{0.004083333})\times [1-(\frac{1}{(1+0.004083333^{240})})][/tex]
⇒ [tex]100000=PMT\times 152.8014557[/tex]
⇒ [tex]PMT=\frac{100000}{152.8014557}[/tex]
⇒ [tex]PMT=654.44[/tex]
Now,
[tex]Saving \ Per \ Month =Rent \ per \ month-PMT[/tex]
On putting the values, we get
⇒ [tex]=725-654.44[/tex]
⇒ [tex]=70.56[/tex]
