Find the periodic payment r required to amortize a loan

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Reference no: EM13943721

Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.)

P = 50,000, r = 2, t = 19, m = 6

Reference no: EM13943721

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