Author Question: Linens Plus wishes to pay off a debt of 15,000 in 2 years. What amortization payment would they need ... (Read 100 times)

Jipu 123 · **on:** Jun 24, 2018

Linens Plus wishes to pay off a debt of 15,000 in 2 years. What amortization payment would they need to make every month, at 12 interest compounded monthly? (Use Table 12-2 from your text)
A) 625.00
B) 664.81
C) 684.10
D) 706.10

Question 2

Best Ribs wishes to pay off a debt of 40,000 in 7 years. What amortization payment would they need to make each six months, at 6 interest compounded semiannually? (Use Table 12-2 from your text)
A) 3,541.05
B) 3,910.63
C) 2,727.79
D) 2,955.32