Question: A B C D E 45 Period P r PMT A 46 1 $4,000 6% $240 $300 $3,940 47 2 $3,940 6% $236 $300 $3,876


A B C D E 45 Period P r PMT A 46 1 $4,000 6% $240 $300 $3,940 47 2 $3,940 6% $236 $300 $3,876 48 3 $3,876 6% $233 $300 $3,809 49 4 $3,809 6% $229 $300 $3,738 50 5 $3,738 6% $224 $300 $3,662 51 6 $3,662 6% $220 $300 $3,581 52 7 $3,581 6% $215 $300 $3,496 53 8 $3,496 6% $210 $300 $3,406 54 9 $3,406 6% $204 $300 $3,311 55 10 $3,311 6% $199 $300 $3,209 56 11 $3,209 6% $193 $300 $3,102 57 12 $3,102 6% $186 $300 $2,988 58 13 $2,988 6% $179 $300 $2,867 59 14 $2,867 6% $172 $300 $2,739 60 15 $2,739 6% $164 $300 $2,603 61 16 $2,603 6% $156 $300 $2,460 62 17 $2,460 6% $148 $300 $2,307 63 18 $2,307 6% $138 $300 $2,146 19 $2,146 6% $129 $300 $1,974 65 20 $1,974 6% $118 $300 $1,793 f. Adjust the payment until you determine what amount is required to completely pay off the original loan at the end of 20 periods. Your answer should be to the nearest dollar. PMT = 4. List the four main tools or formulas used for doing calculations related to loans that you used in this course. Beside each, describe how you would recognize this method as the best tool for any given situation
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