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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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roymiana roymiana
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6 years ago
Use the appropriate formula to find the amortization payment you would need to make each three months, at 8 interest compounded quarterly, to pay off a loan of 8,000 in 6 years.
 A) 1,730.52
  B) 422.97
  C) 1,288.29
  D) 316.61

Q. 2

Find the amortization payment you would need to make every six months, at 6 interest compounded semiannually, to pay off a loan of 4,000 in 6 years. (Use Table 12-2 from text)
 A) 767.41
  B) 813.45
  C) 390.14
  D) 401.85

Q. 3

What amortization payment would you need to make each year, at 14 interest compounded semiannually, to pay off a loan of 24,000 in 4 years? (Use Table 12-2 from your text)
 A) 5,000.00
  B) 4,086.45
  C) 4,019.23
  D) 954.22

Q. 4

Leon's Plumbing wishes to pay off a debt of 21,000 in 6 years. What amortization payment would they need to make every three months, at 6 interest compounded quarterly? (Use Table 12-2 from your text)
 A) 722.57
  B) 1,032.91
  C) 1,048.41
  D) 733.41
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ladytt92ladytt92
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6 years ago
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roymiana Author
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6 years ago
The fact that I can't marry you for this saddens me.
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6 years ago
Let's keep this professional  Monkey
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