41. (-/1 Points] DETAILS TANFIN12 5.3.002. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the periodic payment R requir

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41 1 Points Details Tanfin12 5 3 002 My Notes Ask Your Teacher Practice Another Find The Periodic Payment R Requir 1 (59.89 KiB) Viewed 28 times

41. (-/1 Points] DETAILS TANFIN12 5.3.002. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER 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 = 30,000, r = 4, t = 14, m = 6 $ Need Help? Read It Watch It 42. [-/1 Points] DETAILS TANFIN12 5.1.074. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Use the formula for the effective rate (annual effective yield) eff = (A/P)1/t - 1 where P is an initial investment in dollars, A is an accumulated amount in dollars, and t is time in years, to solve the exercise. Martha invested $50,000 in a boutique 8 years ago. Her investment is worth $80,000 today. What is the effective rate (annual effective yield) of her investment? (Round your answer to two decimal places.) % Need Help? Read It