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OK, let's solve that problem. Let's turn on the calculator first. It was one thousand
dollar loan
eight percent at interest eight present stated interest rates
and twelve months
so we're going to start with our present value
which is one
thousand
We're going to hit this +/- to enter this as a negative
present value
8 I/Y
twelve
N
And we're gonna compute
for the payment
And when we do that
we see that we get a payment of eighty-six dollars and ninety-eight cents
Or i guess, eighty six dollars and ninety nine cents (rounded up)
Is that what you came up with?