Question: if the current interest rate is 8.36% compounded monthly which payment method is the most optimal? $200 per month for 12 months or $1100 up

if the current interest rate is 8.36% compounded monthly which payment method is the most optimal? $200 per month for 12 months or $1100 up front and then another $1100 payment in 6 months.

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!