Example Suppose that you request a loan for $2000 today for which you want to make monthly payments for 2 years Assume that the monthly interest rate is 1 5 Calculate the fixed amount payment that you would have to pay every month Calculate the value of a loan today for which you pay $150 monthly for the first year, and $300 monthly for the second year Assume that the interest rate is 1 5 Example Suppose that you request a loan for $2000 today for which you want to make monthly payments for 2 years Assume that the monthly interest rate is 1 5 Calculate the fixed amount payment that you would have to pay every month Calculate the value of a loan today for which you pay $150 monthly for the first year, and $300 monthly for the second year Assume that the interest rate is 1 5

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Question: Example: - Suppose that you request a loan for $2000 today for which you want to make monthly payments for 2 years. Assume that the

Example: - Suppose that you request a loan for $2000 today for which you want to make monthly payments for 2 years. Assume that the monthly interest rate is 1.5%. Calculate the fixed amount payment that you would have to pay every month. - Calculate the value of a loan today for which you pay $150 monthly for the first year, and $300 monthly for the second year. Assume that the interest rate is 1.5%.

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