This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Ryan must pay off a loan of 3,500 in 5 years. Use the appropriate formula to find the amortization ... (Read 79 times)

saliriagwu

  • Hero Member
  • *****
  • Posts: 537
on: Jun 24, 2018
Ryan must pay off a loan of 3,500 in 5 years. Use the appropriate formula to find the amortization payment he would need to make each six months, at 12 interest compounded semiannually.
 A) 475.54
  B) 970.93
  C) 195.69
  D) 394.89

Question 2

What amortization payment would you need to make each year, at 12 interest compounded annually, to pay off a loan of 4,000 in 6 years? (Use Table 12-2 from your text)
 A) 477.11
  B) 486.45
  C) 972.90
  D) 954.22


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

C


saliriagwu

  • Member
  • Posts: 537
Reply 2 on: Jun 24, 2018
:D TYSM

covalentbond

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

School age (late childhood): 6–12 years, or to puberty. School age (late childhood): 6–12 years, or to puberty.
A peice of paper has a perimeter of 100 cm and an area of 616cm^2. Find the dimensions A peice of paper has a perimeter of 100 cm and an area of 616cm^2. Find the dimensions
What rate, compounded once every 3 years, is equivalent to 9% effective rate? What rate, compounded once every 3 years, is equivalent to 9% effective rate?
Derive the following using the increment/delta method and find its slope Derive the following using the increment/delta method and find its slope
Find the equivalent replacement payments for the following scheduled payment. Find the equivalent replacement payments for the following scheduled payment.
Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ... Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ...
Video: Cardiac Cycle (Part 4 of 4)

For a complete list of videos, visit our video library