1.-Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Quarterly payments on $15,500 at 3.7% for 6 years

2.- A MasterCard statement shows a balance of $510 at 13.5% compounded monthly. What monthly payment will pay off this debt in 1 year 10 months? (Round your answer to the nearest cent.)

3.- Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 7 years of monthly payments on $180,000 at 3% for 25 years.

 

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1 Payment to amortize the debt We can use the formula for the present value of an annuity to solve t... View the full answer