Caroline took out an 8-month loan for $900 at an appliance store to be paid
back with monthly p...
Mathematics, 26.11.2019 00:31 kingjonesjr
Caroline took out an 8-month loan for $900 at an appliance store to be paid
back with monthly payments at a 21.6% apr, compounded monthly. if the
loan offers no payments for the first 2 months, which of these groups of
values plugged into the tvm solver of a graphing calculator will give her the
correct answer for the amount of the monthly payment over the last 6 months
of the loan?
a. n=6; 1% = 21.6; pv=-900; pmt= ; fv=0; p/y=12: c/y=12: pmt: end
b. n=0.5; 1% = 21.6; pv=-900; pmt=fv=0; p/v=12, cy=12,
pmt: end
c. n=0.5; 1% = 21.6: pv=-932.69: pmt= ; fv=0; p/y=12; c/v=12;
pmt: end
d. n=6; 1% = 21.6; pv=-932.69; pmt= : fv=0; p/y=12; c/y=12;
pmt: end
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