ANNUITIES AND MORTGAGES ◆ MORTGAGE Repay a loan obl in n equal payments, i.e determine fso that Q(N=0 F=-{iQ)+N(1+iy-1 ◆ ANNUITY Accumulate a specified amount /e( in N equal Payments Fstarting with 200=0. F=-{iQ/(1+i-1 10/1599 Engineering economics 110/15/99 Engineering Economics 1 9 ANNUITIES AND MORTGAGES t MORTGAGE Repay a Loan [Q(0)] in N Equal Payments, i.e., determine F so that Q(N) = 0 F = -{ i Q(0) [(1+i)N] } / {[(1+i)N] - 1} t ANNUITY Accumulate a Specified Amount [Q(N)] in N Equal Payments F starting with Q(0) = 0. F = - { i Q(N)} / {[(1+i)N] - 1}