Your Banner Here

   [Show all top banners]

Gham-Pani
Replies to this thread:
kunkum123 3591 days ago
user01 3591 days ago
Gham-Pani 3591 days ago
alece 3591 days ago
magorkhe1 3591 days ago
Shreen 3590 days ago
kunkum123 3590 days ago
wit's end 3590 days ago
kakakul 3590 days ago

More by Gham-Pani
What people are reading
Subscribers
:: Subscribe
Back to: Kurakani General Refresh page to view new replies
 Help from Math Experts, please.
[VIEWED 9311 TIMES]
SAVE! for ease of future access.
Posted on 01-09-15 3:42 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Hi,
I need to calculate fixed yearly interest rate. Here's the problem:
Amount: $84289.80
Number of monthly payments: 231
Monthly payment: $528.67

Thanks.
 
Posted on 01-09-15 5:05 PM     [Snapshot: 58]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

4.110036%
 
Posted on 01-09-15 5:51 PM     [Snapshot: 103]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

can you post how you figured it out?
 
Posted on 01-10-15 6:15 AM     [Snapshot: 277]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Yes can you tell me how you came with this number? I got 3.08% interest rate.
Is there a specific forumla?
 
Posted on 01-10-15 8:04 AM     [Snapshot: 319]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

i got 2.025%
lol
 
Posted on 01-10-15 11:15 AM     [Snapshot: 399]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Answer is 4.11
 
Posted on 01-10-15 12:18 PM     [Snapshot: 447]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Yikes! This problem isn't as simple as I thought. I already spent a couple of hours still couldn't get through. However, I found an example in following website, and I assume it might be helpful to solve it. If u r able to solve this problem please post the steps here. And I think 4.11% is the right answer because when u plug into a right online calculator you can get that answer.
http://mathforum.org/dr.math/faq/faq.interest.html
 
Posted on 01-10-15 7:23 PM     [Snapshot: 541]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

I know the steps but its too long to post here. Sorry. It just took me 12 minutes to solve this problem.
 
Posted on 01-10-15 11:42 PM     [Snapshot: 638]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

The answer seems to be 4.11 using HP 12C calculator.
I think the math behind this calculation is
PV/PMT = ((1-(1+i)^n)/i
where PV=84289.80
PMT= 528.67
n = 231
find i
 
Posted on 01-11-15 12:37 AM     [Snapshot: 655]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

4.11 seems right,
 M = P * ( J / (1 - (1 + J)-N))
  • M = payment amount
  • P = principal, meaning the amount of money borrowed
  • J = effective interest rate.
  • N = total number of payments
here is how your payment would get allocated.
Month Balance Principal Interest Payment
1 $ 84,289.80 $ 239.98 $ 288.69 $ 528.67
2 $ 84,049.82 $ 240.80 $ 287.87 $ 528.67
3 $ 83,809.03 $ 241.62 $ 287.05 $ 528.67
4 $ 83,567.40 $ 242.45 $ 286.22 $ 528.67
5 $ 83,324.95 $ 243.28 $ 285.39 $ 528.67
6 $ 83,081.67 $ 244.11 $ 284.55 $ 528.67
7 $ 82,837.56 $ 244.95 $ 283.72 $ 528.67
8 $ 82,592.61 $ 245.79 $ 282.88 $ 528.67
9 $ 82,346.82 $ 246.63 $ 282.04 $ 528.67
10 $ 82,100.19 $ 247.48 $ 281.19 $ 528.67
11 $ 81,852.72 $ 248.32 $ 280.35 $ 528.67
12 $ 81,604.39 $ 249.17 $ 279.50 $ 528.67
13 $ 81,355.22 $ 250.03 $ 278.64 $ 528.67
14 $ 81,105.19 $ 250.88 $ 277.79 $ 528.67
15 $ 80,854.31 $ 251.74 $ 276.93 $ 528.67
16 $ 80,602.57 $ 252.60 $ 276.06 $ 528.67
17 $ 80,349.96 $ 253.47 $ 275.20 $ 528.67
18 $ 80,096.49 $ 254.34 $ 274.33 $ 528.67
19 $ 79,842.16 $ 255.21 $ 273.46 $ 528.67
20 $ 79,586.95 $ 256.08 $ 272.59 $ 528.67
21 $ 79,330.86 $ 256.96 $ 271.71 $ 528.67
22 $ 79,073.90 $ 257.84 $ 270.83 $ 528.67
23 $ 78,816.06 $ 258.72 $ 269.95 $ 528.67
24 $ 78,557.34 $ 259.61 $ 269.06 $ 528.67
25 $ 78,297.73 $ 260.50 $ 268.17 $ 528.67
26 $ 78,037.23 $ 261.39 $ 267.28 $ 528.67
27 $ 77,775.84 $ 262.29 $ 266.38 $ 528.67
28 $ 77,513.55 $ 263.18 $ 265.48 $ 528.67
29 $ 77,250.37 $ 264.09 $ 264.58 $ 528.67
30 $ 76,986.28 $ 264.99 $ 263.68 $ 528.67
31 $ 76,721.29 $ 265.90 $ 262.77 $ 528.67
32 $ 76,455.40 $ 266.81 $ 261.86 $ 528.67
33 $ 76,188.59 $ 267.72 $ 260.95 $ 528.67
34 $ 75,920.86 $ 268.64 $ 260.03 $ 528.67
35 $ 75,652.22 $ 269.56 $ 259.11 $ 528.67
36 $ 75,382.67 $ 270.48 $ 258.19 $ 528.67
37 $ 75,112.18 $ 271.41 $ 257.26 $ 528.67
38 $ 74,840.77 $ 272.34 $ 256.33 $ 528.67
39 $ 74,568.43 $ 273.27 $ 255.40 $ 528.67
40 $ 74,295.16 $ 274.21 $ 254.46 $ 528.67
41 $ 74,020.96 $ 275.15 $ 253.52 $ 528.67
42 $ 73,745.81 $ 276.09 $ 252.58 $ 528.67
43 $ 73,469.72 $ 277.03 $ 251.63 $ 528.67
44 $ 73,192.69 $ 277.98 $ 250.68 $ 528.67
45 $ 72,914.70 $ 278.94 $ 249.73 $ 528.67
46 $ 72,635.77 $ 279.89 $ 248.78 $ 528.67
47 $ 72,355.88 $ 280.85 $ 247.82 $ 528.67
48 $ 72,075.03 $ 281.81 $ 246.86 $ 528.67
49 $ 71,793.21 $ 282.78 $ 245.89 $ 528.67
50 $ 71,510.44 $ 283.75 $ 244.92 $ 528.67
51 $ 71,226.69 $ 284.72 $ 243.95 $ 528.67
52 $ 70,941.98 $ 285.69 $ 242.98 $ 528.67
53 $ 70,656.28 $ 286.67 $ 242.00 $ 528.67
54 $ 70,369.61 $ 287.65 $ 241.02 $ 528.67
55 $ 70,081.96 $ 288.64 $ 240.03 $ 528.67
56 $ 69,793.32 $ 289.63 $ 239.04 $ 528.67
57 $ 69,503.70 $ 290.62 $ 238.05 $ 528.67
58 $ 69,213.08 $ 291.61 $ 237.05 $ 528.67
59 $ 68,921.47 $ 292.61 $ 236.06 $ 528.67
60 $ 68,628.85 $ 293.61 $ 235.05 $ 528.67
61 $ 68,335.24 $ 294.62 $ 234.05 $ 528.67
62 $ 68,040.62 $ 295.63 $ 233.04 $ 528.67
63 $ 67,744.99 $ 296.64 $ 232.03 $ 528.67
64 $ 67,448.35 $ 297.66 $ 231.01 $ 528.67
65 $ 67,150.69 $ 298.68 $ 229.99 $ 528.67
66 $ 66,852.01 $ 299.70 $ 228.97 $ 528.67
67 $ 66,552.31 $ 300.73 $ 227.94 $ 528.67
68 $ 66,251.58 $ 301.76 $ 226.91 $ 528.67
69 $ 65,949.83 $ 302.79 $ 225.88 $ 528.67
70 $ 65,647.04 $ 303.83 $ 224.84 $ 528.67
71 $ 65,343.21 $ 304.87 $ 223.80 $ 528.67
72 $ 65,038.34 $ 305.91 $ 222.76 $ 528.67
73 $ 64,732.43 $ 306.96 $ 221.71 $ 528.67
74 $ 64,425.47 $ 308.01 $ 220.66 $ 528.67
75 $ 64,117.46 $ 309.07 $ 219.60 $ 528.67
76 $ 63,808.39 $ 310.12 $ 218.54 $ 528.67
77 $ 63,498.27 $ 311.19 $ 217.48 $ 528.67
78 $ 63,187.08 $ 312.25 $ 216.42 $ 528.67
79 $ 62,874.83 $ 313.32 $ 215.35 $ 528.67
80 $ 62,561.51 $ 314.40 $ 214.27 $ 528.67
81 $ 62,247.11 $ 315.47 $ 213.20 $ 528.67
82 $ 61,931.64 $ 316.55 $ 212.12 $ 528.67
83 $ 61,615.09 $ 317.64 $ 211.03 $ 528.67
84 $ 61,297.45 $ 318.72 $ 209.94 $ 528.67
85 $ 60,978.73 $ 319.82 $ 208.85 $ 528.67
86 $ 60,658.91 $ 320.91 $ 207.76 $ 528.67
87 $ 60,338.00 $ 322.01 $ 206.66 $ 528.67
88 $ 60,015.99 $ 323.11 $ 205.55 $ 528.67
89 $ 59,692.87 $ 324.22 $ 204.45 $ 528.67
90 $ 59,368.65 $ 325.33 $ 203.34 $ 528.67
91 $ 59,043.32 $ 326.45 $ 202.22 $ 528.67
92 $ 58,716.88 $ 327.56 $ 201.11 $ 528.67
93 $ 58,389.32 $ 328.68 $ 199.98 $ 528.67
94 $ 58,060.63 $ 329.81 $ 198.86 $ 528.67
95 $ 57,730.82 $ 330.94 $ 197.73 $ 528.67
96 $ 57,399.88 $ 332.07 $ 196.59 $ 528.67
97 $ 57,067.81 $ 333.21 $ 195.46 $ 528.67
98 $ 56,734.59 $ 334.35 $ 194.32 $ 528.67
99 $ 56,400.24 $ 335.50 $ 193.17 $ 528.67
100 $ 56,064.74 $ 336.65 $ 192.02 $ 528.67
101 $ 55,728.10 $ 337.80 $ 190.87 $ 528.67
102 $ 55,390.30 $ 338.96 $ 189.71 $ 528.67
103 $ 55,051.34 $ 340.12 $ 188.55 $ 528.67
104 $ 54,711.22 $ 341.28 $ 187.39 $ 528.67
105 $ 54,369.94 $ 342.45 $ 186.22 $ 528.67
106 $ 54,027.49 $ 343.62 $ 185.04 $ 528.67
107 $ 53,683.87 $ 344.80 $ 183.87 $ 528.67
108 $ 53,339.06 $ 345.98 $ 182.69 $ 528.67
109 $ 52,993.08 $ 347.17 $ 181.50 $ 528.67
110 $ 52,645.92 $ 348.36 $ 180.31 $ 528.67
111 $ 52,297.56 $ 349.55 $ 179.12 $ 528.67
112 $ 51,948.01 $ 350.75 $ 177.92 $ 528.67
113 $ 51,597.26 $ 351.95 $ 176.72 $ 528.67
114 $ 51,245.32 $ 353.15 $ 175.52 $ 528.67
115 $ 50,892.16 $ 354.36 $ 174.31 $ 528.67
116 $ 50,537.80 $ 355.58 $ 173.09 $ 528.67
117 $ 50,182.22 $ 356.79 $ 171.87 $ 528.67
118 $ 49,825.43 $ 358.02 $ 170.65 $ 528.67
119 $ 49,467.41 $ 359.24 $ 169.43 $ 528.67
120 $ 49,108.17 $ 360.47 $ 168.20 $ 528.67
121 $ 48,747.70 $ 361.71 $ 166.96 $ 528.67
122 $ 48,385.99 $ 362.95 $ 165.72 $ 528.67
123 $ 48,023.04 $ 364.19 $ 164.48 $ 528.67
124 $ 47,658.85 $ 365.44 $ 163.23 $ 528.67
125 $ 47,293.42 $ 366.69 $ 161.98 $ 528.67
126 $ 46,926.73 $ 367.94 $ 160.72 $ 528.67
127 $ 46,558.78 $ 369.20 $ 159.46 $ 528.67
128 $ 46,189.58 $ 370.47 $ 158.20 $ 528.67
129 $ 45,819.11 $ 371.74 $ 156.93 $ 528.67
130 $ 45,447.37 $ 373.01 $ 155.66 $ 528.67
131 $ 45,074.36 $ 374.29 $ 154.38 $ 528.67
132 $ 44,700.07 $ 375.57 $ 153.10 $ 528.67
133 $ 44,324.50 $ 376.86 $ 151.81 $ 528.67
134 $ 43,947.65 $ 378.15 $ 150.52 $ 528.67
135 $ 43,569.50 $ 379.44 $ 149.23 $ 528.67
136 $ 43,190.06 $ 380.74 $ 147.93 $ 528.67
137 $ 42,809.31 $ 382.05 $ 146.62 $ 528.67
138 $ 42,427.27 $ 383.35 $ 145.31 $ 528.67
139 $ 42,043.91 $ 384.67 $ 144.00 $ 528.67
140 $ 41,659.24 $ 385.99 $ 142.68 $ 528.67
141 $ 41,273.26 $ 387.31 $ 141.36 $ 528.67
142 $ 40,885.95 $ 388.63 $ 140.03 $ 528.67
143 $ 40,497.32 $ 389.97 $ 138.70 $ 528.67
144 $ 40,107.35 $ 391.30 $ 137.37 $ 528.67
145 $ 39,716.05 $ 392.64 $ 136.03 $ 528.67
146 $ 39,323.41 $ 393.99 $ 134.68 $ 528.67
147 $ 38,929.42 $ 395.34 $ 133.33 $ 528.67
148 $ 38,534.09 $ 396.69 $ 131.98 $ 528.67
149 $ 38,137.40 $ 398.05 $ 130.62 $ 528.67
150 $ 37,739.35 $ 399.41 $ 129.26 $ 528.67
151 $ 37,339.94 $ 400.78 $ 127.89 $ 528.67
152 $ 36,939.16 $ 402.15 $ 126.52 $ 528.67
153 $ 36,537.01 $ 403.53 $ 125.14 $ 528.67
154 $ 36,133.48 $ 404.91 $ 123.76 $ 528.67
155 $ 35,728.57 $ 406.30 $ 122.37 $ 528.67
156 $ 35,322.27 $ 407.69 $ 120.98 $ 528.67
157 $ 34,914.58 $ 409.09 $ 119.58 $ 528.67
158 $ 34,505.50 $ 410.49 $ 118.18 $ 528.67
159 $ 34,095.01 $ 411.89 $ 116.78 $ 528.67
160 $ 33,683.12 $ 413.30 $ 115.36 $ 528.67
161 $ 33,269.81 $ 414.72 $ 113.95 $ 528.67
162 $ 32,855.09 $ 416.14 $ 112.53 $ 528.67
163 $ 32,438.95 $ 417.56 $ 111.10 $ 528.67
164 $ 32,021.39 $ 419.00 $ 109.67 $ 528.67
165 $ 31,602.39 $ 420.43 $ 108.24 $ 528.67
166 $ 31,181.96 $ 421.87 $ 106.80 $ 528.67
167 $ 30,760.09 $ 423.32 $ 105.35 $ 528.67
168 $ 30,336.78 $ 424.76 $ 103.90 $ 528.67
169 $ 29,912.01 $ 426.22 $ 102.45 $ 528.67
170 $ 29,485.79 $ 427.68 $ 100.99 $ 528.67
171 $ 29,058.11 $ 429.14 $ 99.52 $ 528.67
172 $ 28,628.97 $ 430.61 $ 98.05 $ 528.67
173 $ 28,198.36 $ 432.09 $ 96.58 $ 528.67
174 $ 27,766.27 $ 433.57 $ 95.10 $ 528.67
175 $ 27,332.70 $ 435.05 $ 93.61 $ 528.67
176 $ 26,897.64 $ 436.54 $ 92.12 $ 528.67
177 $ 26,461.10 $ 438.04 $ 90.63 $ 528.67
178 $ 26,023.06 $ 439.54 $ 89.13 $ 528.67
179 $ 25,583.52 $ 441.04 $ 87.62 $ 528.67
180 $ 25,142.48 $ 442.56 $ 86.11 $ 528.67
181 $ 24,699.92 $ 444.07 $ 84.60 $ 528.67
182 $ 24,255.85 $ 445.59 $ 83.08 $ 528.67
183 $ 23,810.26 $ 447.12 $ 81.55 $ 528.67
184 $ 23,363.14 $ 448.65 $ 80.02 $ 528.67
185 $ 22,914.49 $ 450.19 $ 78.48 $ 528.67
186 $ 22,464.30 $ 451.73 $ 76.94 $ 528.67
187 $ 22,012.57 $ 453.28 $ 75.39 $ 528.67
188 $ 21,559.30 $ 454.83 $ 73.84 $ 528.67
189 $ 21,104.47 $ 456.39 $ 72.28 $ 528.67
190 $ 20,648.09 $ 457.95 $ 70.72 $ 528.67
191 $ 20,190.14 $ 459.52 $ 69.15 $ 528.67
192 $ 19,730.62 $ 461.09 $ 67.58 $ 528.67
193 $ 19,269.53 $ 462.67 $ 66.00 $ 528.67
194 $ 18,806.86 $ 464.25 $ 64.41 $ 528.67
195 $ 18,342.60 $ 465.84 $ 62.82 $ 528.67
196 $ 17,876.76 $ 467.44 $ 61.23 $ 528.67
197 $ 17,409.32 $ 469.04 $ 59.63 $ 528.67
198 $ 16,940.28 $ 470.65 $ 58.02 $ 528.67
199 $ 16,469.63 $ 472.26 $ 56.41 $ 528.67
200 $ 15,997.37 $ 473.88 $ 54.79 $ 528.67
201 $ 15,523.49 $ 475.50 $ 53.17 $ 528.67
202 $ 15,047.99 $ 477.13 $ 51.54 $ 528.67
203 $ 14,570.86 $ 478.76 $ 49.91 $ 528.67
204 $ 14,092.10 $ 480.40 $ 48.27 $ 528.67
205 $ 13,611.70 $ 482.05 $ 46.62 $ 528.67
206 $ 13,129.65 $ 483.70 $ 44.97 $ 528.67
207 $ 12,645.95 $ 485.36 $ 43.31 $ 528.67
208 $ 12,160.59 $ 487.02 $ 41.65 $ 528.67
209 $ 11,673.57 $ 488.69 $ 39.98 $ 528.67
210 $ 11,184.89 $ 490.36 $ 38.31 $ 528.67
211 $ 10,694.53 $ 492.04 $ 36.63 $ 528.67
212 $ 10,202.49 $ 493.72 $ 34.94 $ 528.67
213 $ 9,708.76 $ 495.42 $ 33.25 $ 528.67
214 $ 9,213.35 $ 497.11 $ 31.56 $ 528.67
215 $ 8,716.23 $ 498.82 $ 29.85 $ 528.67
216 $ 8,217.42 $ 500.52 $ 28.14 $ 528.67
217 $ 7,716.90 $ 502.24 $ 26.43 $ 528.67
218 $ 7,214.66 $ 503.96 $ 24.71 $ 528.67
219 $ 6,710.70 $ 505.68 $ 22.98 $ 528.67
220 $ 6,205.02 $ 507.42 $ 21.25 $ 528.67
221 $ 5,697.60 $ 509.15 $ 19.51 $ 528.67
222 $ 5,188.45 $ 510.90 $ 17.77 $ 528.67
223 $ 4,677.55 $ 512.65 $ 16.02 $ 528.67
224 $ 4,164.90 $ 514.40 $ 14.26 $ 528.67
225 $ 3,650.50 $ 516.17 $ 12.50 $ 528.67
226 $ 3,134.33 $ 517.93 $ 10.74 $ 528.67
227 $ 2,616.40 $ 519.71 $ 8.96 $ 528.67
228 $ 2,096.69 $ 521.49 $ 7.18 $ 528.67
229 $ 1,575.20 $ 523.27 $ 5.40 $ 528.67
230 $ 1,051.93 $ 525.07 $ 3.60 $ 528.67
231 $ 526.86 $ 526.86 $ 1.80 $ 528.67
Last edited: 11-Jan-15 01:08 AM
 

Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 60 days
Recommended Popular Threads Controvertial Threads
TPS Re-registration case still pending ..
Toilet paper or water?
and it begins - on Day 1 Trump will begin operations to deport millions of undocumented immigrants
Tourist Visa - Seeking Suggestions and Guidance
From Trump “I will revoke TPS, and deport them back to their country.”
advanced parole
ढ्याउ गर्दा दसैँको खसी गनाउच
To Sajha admin
MAGA denaturalization proposal!!
How to Retrieve a Copy of Domestic Violence Complaint???
wanna be ruled by stupid or an Idiot ?
All the Qatar ailines from Nepal canceled to USA
Travel Document for TPS (approved)
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.
Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters