Calculate the Monthly Payment by Using the Loan Amortization Table

question 63

Short Answer

Calculate the monthly payment by using the loan amortization table:
$\begin{array} { l l } \text { Loan } & \$ 26,000 \\\text { Down Payment } & \$ 5,000 \\\text { Time } & 36 \text { months } \\\text { Rate } & 11 \%\end{array}$

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Definitions:

Standard Deviation

A parameter that indicates the level of dispersion or variability within a collection of data points.

Data

Factual information, especially measurements or research results, used as a basis for reasoning, discussion, or calculation.

Standard Deviation

An indicator that quantifies the extent of spread or deviation of a collection of values from their average.

Data

Information collected for reference or analysis, which can be qualitative or quantitative in nature.