Question

For each of the following, calculate the payment each loan would require. Assume the payments are made at the end of the period in each case. Interest rates are annual rates.
1. Principal $ 30,000; interest rate 5%; term 5 years; payments annual
2. Principal $ 30,000; interest rate 8%; term 5 years; payments annual
3. Principal $ 30,000; interest rate 8%; term 10 years; payments annual
4. Principal $ 30,000; interest rate 8%; term 10 years; payments semi- annual
5. Principal $ 30,000; interest rate 12%; term 2 years; payments monthly




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  • CreatedSeptember 01, 2014
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