When you increase the number of payments per period, why does the total cash payment times the
Question:
When you increase the number of payments per period, why does the total cash payment times the number of payments in the period not equal the original single payment for the period? (In other words, why does twelve times a monthly payment on a loan with a positive interest rate not equal the required annual payment on the same loan amount with the same interest rate?)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The payments are for both interest and principal The interest is based on ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
