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Author Question: Linens Plus wishes to pay off a debt of 15,000 in 2 years. What amortization payment would they need ... (Read 104 times)

Jipu 123

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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


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nixon_s

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

D

Answer to Question 2

A


Jipu 123

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

amandalm

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Reply 3 on: Yesterday
Excellent

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