Question: Which of the following calculates the monthly payment (expressed as a positive number) for a loan of $10,000 for 2 years with a 3.5% annual
Which of the following calculates the monthly payment (expressed as a positive number) for a loan of $10,000 for 2 years with a 3.5% annual interest rate?
a. –Financial.Pmt(0.035, 2, 10000)
b. –Financial.Pmt(0.035 / 12, 2 * 12, 10000)
c. –Financial.Pmt(2 * 12, 0.035 / 12, 10000)
d. –Financial.Pmt(10000, 0.035 / 12, 2 * 12)
Step by Step Solution
3.52 Rating (159 Votes )
There are 3 Steps involved in it
b Fina... View full answer
Get step-by-step solutions from verified subject matter experts
