Answer
$5078.69
Work Step by Step
PV=200000
i=$\frac{0.06}{4}$
n=15(4)
PMT=$200000\frac{\frac{0.06}{4}}{1-(1+\frac{0.06}{4})^{-15(4)}}$=$5078.69
Finite Math and Applied Calculus (6th Edition)
by Waner, Stefan; Costenoble, Steven
Published by
Brooks Cole
ISBN 10:
1133607705
ISBN 13:
978-1-13360-770-0
Chapter 2 - Section 2.3 - Annuities, Loans, and Bonds - Exercises - Page 156: 22
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