# Find The Payment Necessary To Amortize The Loan

Find the periodic payment R required to amortize a loan of. – Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of {eq}\frac{r\, \%}{year} {/eq} compounded m times a year.

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Find the payment necessary to amortize the loan. –  · Find the payment necessary to amortize the loan?-$1,000; 6% compounded annually, 7 annual payments. A.$161. 04 B. $179.13 C.$203.36 D. \$180.88 I thought it was A but got it incorrect, How do I solve this problem correctly? Thanks for any help in.

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