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Author Question: Leon's Plumbing wishes to pay off a debt of 21,000 in 6 years. What amortization payment would they ... (Read 120 times)

EAugust

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on: Jun 24, 2018
Leon's Plumbing wishes to pay off a debt of 21,000 in 6 years. What amortization payment would they need to make every three months, at 6 interest compounded quarterly? (Use Table 12-2 from your text)
 A) 722.57
  B) 1,032.91
  C) 1,048.41
  D) 733.41

Question 2

Jeff wishes to accumulate 5,000 in 5 years. Use the appropriate formula to find the sinking fund payment she would need to make at the end of each year, at 5 interest, compounded annually.
 A) 989.94
  B) 917.47
  C) 904.87
  D) 949.87


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nanny

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

C

Answer to Question 2

C


EAugust

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

hollysheppard095

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

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