Evaluate 

*R*

0.083*i*

1 − (1 + 0.083*i*)−*n*

 when 

*R* = 90,000,
 
*i* = 0.04,

 and 

*n* = 360.

 (Round your answer to two decimal places.)

To evaluate the expression:

\[
\frac{R \times 0.083 \times i}{1 - (1 + 0.083 \times i)^{-n}}
\]

we'll substitute the given values:

- $ R = 90,000 $
- $ i = 0.04 $
- $ n = 360 $

So the expression becomes:

\[
\frac{90,000 \times 0.083 \times 0.04}{1 - (1 + 0.083 \times 0.04)^{-360}}
\]

Let's calculate the value.The value of the expression is **$428.84**, rounded to two decimal places.

Would you like to explore any further details or have any other questions?

Here are 5 related questions you might consider:
1. How does changing the interest rate $ i $ affect the result?
2. What happens to the expression if the number of periods $ n $ is reduced?
3. How would the result change if $ R $ were higher or lower?
4. Can this formula be applied to other financial calculations, like mortgage payments?
5. What is the significance of each term in the formula in a real-world context?

**Tip:** Always double-check the rounding instructions when working with financial calculations to ensure accuracy.

Learn how to evaluate compound interest with a given principal amount of $90,000, interest rate of 4%, and 360 periods. Calculate the result using the compound interest formula. Detailed step-by-step solution provided.

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