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#2 the answer $804.55 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel
#2 the answer $804.55 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you
2. A debt of $20,000 will be settled with 32 quarterly payments. If the interest rate is 7.8% compounded quarterly, determine the size of the concluding payment if the quarterly payment is rounded up to the nearest dollar. 3. A person will pay $400 at the end of each month to settle a loan of $7,800. If the interest rate is 4.8% compounded monthly, find the size of the last payment if: a) the last full payment is increased to pay off the amount owed. ($536.87; 20 full payments are needed ) b) a smaller payment is made one month after the last full payment ($137.42) 4. To settle a $18,000 loan, a company will pay $1000 at the end of each quarter. If the interest rate is 9.6% in ingreed to settle the entire 1 h 2. A debt of $20,000 will be settled with 32 quarterly payments. If the interest rate is 7.8% compounded quarterly, determine the size of the concluding payment if the quarterly payment is rounded up to the nearest dollar. 3. A person will pay $400 at the end of each month to settle a loan of $7,800. If the interest rate is 4.8% compounded monthly, find the size of the last payment if: a) the last full payment is increased to pay off the amount owed. ($536.87; 20 full payments are needed ) b) a smaller payment is made one month after the last full payment ($137.42) 4. To settle a $18,000 loan, a company will pay $1000 at the end of each quarter. If the interest rate is 9.6% in ingreed to settle the entire 1 hStep by Step Solution
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