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Author Question: Use the appropriate formula to find how much you should deposit now at 9 interest, compounded ... (Read 58 times)

j.rubin

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on: Jun 24, 2018
Use the appropriate formula to find how much you should deposit now at 9 interest, compounded annually, to yield an annuity payment of 1,200 at the BEGINNING of each year, for 18 years.
 A) 10,252.36
  B) 7,870.92
  C) 7,486.12
  D) 11,452.36

Question 2

Use the appropriate formula to find the amortization payment you would need to make each three months, at 8 interest compounded quarterly, to pay off a loan of 8,000 in 6 years.
 A) 1,730.52
  B) 422.97
  C) 1,288.29
  D) 316.61


sultana.d

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

B


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j.rubin

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Reply #2 on: Jun 24, 2018
Thank you


sultana.d

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Reply #3 on: Jun 24, 2018
No problemo


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