Present value, P=63000interest rate, i = 10% compounded annuallyNumber of periods, n = 3 years
For equal payments, [tex]A=\frac{P(i*(1+i)^n)}{(1+i)^n-1}[/tex][tex]=\frac{63000(0.10*(1+0.10)^3)}{(1+0.10)^3-1}[/tex]
=25333.23 per annual payment to the nearest cent
