Use Table 12-2 from your text to calculate the amount of the periodic payment required to amortize (pay off) the loans, rounding to the nearest cent:
Loan
Payment
Term of
Nominal
Interest
Present Value
Payment
Period
Loan
Rate
Compounded
(Amount of Loan)
_________
every month
18%
monthly
$750
What will be an ideal response?
$31.23
You might also like to view...
Explain the endogenous (i.e., hedge-fund-related) factors that caused LTCM's portfolio to lose the normal protections afforded by diversification
What will be an ideal response?
Research has shown that nonverbal behaviors involving ________ are associated more with boys than girls.
A. passivity and trustworthiness B. passivity and knowledge C. aggression and lack of credibility D. aggression and lack of knowledge E. dominance and control
Hispanics who identify most strongly with their Hispanic subcultures are most likely to engage in
A. wife-dominated decisions. B. husband-dominated decisions. C. joint decisions. D. child-dominated decisions. E. None of these choices are correct.
The introduction of airline pilots use of a laptop to perform their preflight check is an example of a(n) _____________ innovation.
Fill in the blank(s) with the appropriate word(s).