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8. Jack takes out a personal loan from the bank today. He will make 10 equal monthly repayments of $1,000 starting in 6 months. The
8. Jack takes out a personal loan from the bank today. He will make 10 equal monthly repayments of $1,000 starting in 6 months. The interest rate is 6% p.a. compounded monthly. Which of the following TVM function expressions can be used to calculate the size of the loan? (2 marks) A. =PV(6%/12,5,0,PV(6%/12,10,1000)) B. =PV(6%,0.5,0,PV(6%/12,10,1000,1)) C. =PV(6%/12,16,0,FV(6%/12,10,1000)) D. =FV(6%/12,16,0,PV(6%/12,10,1000))
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