Answer to Activity 3 You can easily find the monthly payment for four years by changing just one number: In the formula you just used, replace 2*12 with 4*12: =PMT(17%/12,4*12,5400) The monthly payment over four years would be ($155.82).
Answer to Activity 3
=PMT(17%/12,4*12,5400)
The monthly payment over four years would be ($155.82).
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