回复:go ahead & post
thanx in advance,
the owner can make a renovation in the first quarter of the year, which is cost $11,000. At the beginning of the year the owner takes a loan for a year period with interest rate 5%
it requests to create an amortization table for monthly loan payments assuming constant payments and interest rate.
Im a little puzzled, since it has already assumed the rate to 5%, why it still asks to assume the constant payment and interest rate?
I know the Formula should be PMT(5%/12, 12,11000, 1),
is that rit?