Question: Checkpoint #15 - Credit Cards E For each question, fill out what you are typing into the TVM solver (this counts for marks). Then state

Checkpoint #15 - Credit Cards E For each question, fill out what you are typing into the TVM solver (this counts for marks). Then state your answeris}. Remember that you can use the \"How to Use a TVM Solver\" guide found under lesson 6.4. 1. Rita takes out a mortgage for $350 000. Her bank has approved her for a mortgage with 3.4% interest compounded semi-annually. Her amortization period is 26 years and she will make monthly payments. What will her monthly payment be? {7 marks) I96: PV: PMT: 2. Toby purchases a new couch for $5500 on a store credit card (uh oh\"). This credit card charges 25% interest compounded daily. If Toby only makes the minimum payment of $100, how long will it take him to pay it off (in years}? How much interest will he have spent in total? (8 marks) I96: PV: PMT

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