I'm Wondering how about do you solve this question. I'm using a software Called TValue 5 to double check my work.
Principal = $100,000.00
Interest = 3% annual, Compounded Monthly
Payment Frequency is Monthly
And the Duration is 36 Months
Months that will be skipped are September, October, November and Decemer The Loan Starts in February, But that doesn't Information isn't necessary. Calculate Monthly Payment Amount
When I hit the Calculate Button, The Monthly Payment Amount is 4351.27 If anyone would Like to Double Check. I've tried a previous Method suggested to me but it was off by $200. If Someone could help to get closer that would be great