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Author Question: A loan of $9000.00 was repaid together with interest of $3728.00. If interest was 9.4% compounded ... (Read 168 times)

formula1

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on: Jun 6, 2019

Question 1

Three debt payments, the first in the amount of $1600.00 due today, the second in the amount of $7200.00 due in 15 months and the third in the amount of $5000 due in 24 months, are to be settled by two equal payments nine months from now and a final payment in 21 months. Determine the size of the equal payments if the money is worth 12.12% p.a. compounded monthly.
◦ $6900.00
◦ $6415.26
◦ $6801.60
◦ $13 800.00
◦ $12 830.51

Question 2

A loan of $9000.00 was repaid together with interest of $3728.00. If interest was 9.4% compounded quarterly, how long was the loan taken out? (Give answer in years and months to the nearest tenth.)
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by formula1 on Jun 6, 2019

karlss

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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formula1

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Reply 2 on: Jun 6, 2019
YES! Correct, THANKS for helping me on my review

debra928

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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