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Compute the missing value ie N or PMT

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Reference no: EM132721934

Problem 1: A debt of $5000 with interest at 7% compounded monthly is to be repaid by equal payments at the end of each month for six months. Compute the missing value (N or PMT).

Select one:

a. PMT = $731.05
b. PMT = $850.43
c. N = 7 payment intervals
d. PMT = $845.50
e. N = 72 payment intervals

Reference no: EM132721934

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