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 85 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
YES! Correct, THANKS for helping me on my review

ryansturges

  • Member
  • Posts: 338
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

How to use your Fx-991ES Plus Calculator to find the roots of a quadratic equation How to use your Fx-991ES Plus Calculator to find the roots of a quadratic equation
Find the speed after 40.0 min if the initial speed is 3250 rev/min Find the speed after 40.0 min if the initial speed is 3250 rev/min
Find derivative using quotient rule Find derivative using quotient rule
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?
1) (a) What is Coulomb?s Law? (b) Find the net electrostatic force on the charge labeled ?P? in ... 1) (a) What is Coulomb?s Law? (b) Find the net electrostatic force on the charge labeled ?P? in ...
Solve the system to find x and y Solve the system to find x and y
Video: The life cycle of protein

For a complete list of videos, visit our video library