What is the PV for the problem below
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What is the PV for the problem below

[From: ] [author: ] [Date: 12-01-01] [Hit: ]
8) =$22,208.80 number of payments=12(15) =180 monthly interest=(7.2)/12=0.6%1+i=1.006amount of paymentns=22,......
sailboat costs $27,761. You pay 20% down and amortize the rest with equal monthly payments over a 15 year period and you pay 7.2% compounded monthly

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total amortize=(27,761)(0.8)
=$22,208.80
number of payments=12(15)
=180
monthly interest=(7.2)/12
=0.6%
1+i=1.006
amount of paymentns=22,208.8/[sum from n=1 to 180 of (1+i)^n]
=$68.45
1
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