# Question: find the periodic payment r required to amortize a loan...

###### Question details

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* = 40,000, *r* = 5, *t* = 13, *m*
=6