1. A loan of $3000 is to be repaid with semiannual payments for 4 years at 4.8%...

Question:

1. A loan of $3000 is to be repaid with semiannual payments for 4 years at 4.8% interest compounded semiannually. Calculate the semiannual payment.
2. The weekly payment on a 2-year loan at 7.8% compounded weekly is $23.59. Calculate the amount of the loan.
3. The quarterly payment on a 5-year loan at 6.8% compounded quarterly is $235.82. Calculate the amount of the loan?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

Question Posted: