Question: 39 Identify the correct formula to calculate the payment for a loan, where the rate is 6%, the loan amount is $2,000, and payments will

39 Identify the correct formula to calculate the payment for a loan, where the rate is 6%, the loan amount is $2,000, and payments will be made monthly for six years. =PMT(6,6*12,2000) =PMT(.06/12,6*12,-2000) once=1/1b1435-b60f-40fb-ad57-d89084c2075a&launchCode=qe8mtdEeV5pWjPP2nq... =PMT(.06,6*12,-2000) =PMT(.06,6*12,2000)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Accounting equation Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 20Y2, Captivating Inc. has assets of $550,470 and liabilities of $173,950....

17) Yield is the amount of annual interest. True False 12) All of the following statements are TRUE about amortization schedules EXCEPT: (1 point) All interest and principal paid should equal the sum...

In Python: When it comes to buying "on time", sometimes it's really hard to get the information you need. Suppose you want to buy a new $3,500 computer system. Should you use your credit card, or...

please do it in clear writing. also finish all of it so i can give you a up write it in clear writing HO 5 Too Unit #6 Assignment - Annuities (211 (2) Jus 10,2030 4:35 PM 40 MAPAC UNIT 6 ASSIGNMENT -...

The partially completed workbook is attached below. The workbook is intended to calculate the car loan payments based on the price of the vehicle, the amount of the trade in value and the duration of...

I need help on question 2. MODULE IV: TIME VALUE OF MONEY INTRODUCTION The time value of money analysis has many a lysis has many applications, ranging from setting hedules for paying off loans to...

1. Calculate the price of the following semi-annual coupon bond (issued on 1/1/2015) AS OF 1/1/2018. Coupon payments occur on 6/30 and 12/31 of each year so the first coupon payment took place on...

I would like assistance with my coding C++ visual studio. Some terms are not defined properly and i am not sure how to fix it. INSTRUCTIONS:: MY PROGRAM::: AutoSave Off C++ Programming Functions and...

Please review the attached and let me know if I am correct/incorrect on answers and if incorrect, how do I get the correct answers. Thanks. Michele Diaz is ready to meet with Austin Mark, the loan...

please help MODULE IV: TIME VALUE OF MONEY INTRODUCTION The time value of money analysis has many applications, ranging from setting up schedules for paying off loans to decisions about whether to...

Hi there. Can someone please help me with the responses to questions one through five ? (Questions are located on page one and are based on the information presented in the case. ) Any assistance...

Aloha Banking Co. is studying ATM use in suburban Honolulu. A sample of 30 ATMs showed they were used the following number of times yesterday. 83 64 84 76 84 54 63 75 59 61 80 70 84 73 68 52 95 65 90...

You have taken a stock option position and, if the stock\'s price drops, you will get a level gain no matter how far prices fall, but you could go bankrupt if the stock\'s price rises. You...

What was the common themes in D . J Opperman's poems

Why is it important to work row by row instead of column by column in preparing a QSPM?

List 4 limitations of a BCG Matrix.

How would profit and nonprofit organizations differ in their applications of the strategy-formulation framework?

Bugs consumes carrots and lettuce, both of which are normal goods. Suppose the price of carrots rises. a. Illustrate the substitution and income effects. b. Does the substitution effect lead to an...

Gus the cab driver rents a cab and pays for gas. In each of the following circumstances, describe the short-run effect on the price and quantity of rides Gus offers. a. The price of gas falls. b. The...

Question 3 5 2 p t s Antoinette thought to herself, " If we meet our team objective to solve the client's problem, we will earn a team award from our company. Now, each team member has contributed at...

What changes should be made to the Employment Insurance program to address its present weaknesses?

Besides retirement income, what other benefits are provided through the Canada Pension Plan?

Suppose a friend of yours contracted lead poisoning on the job. What sources of income could this person rely on while recovering during the next two months? What if it took two years for your friend...