Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Far East Imports Inc. owes $ 6 4 0 0 0 to be repaid by monthly payments of $ 2 4 7 5 . interrest

Far East Imports Inc. owes $64000 to be repaid by monthly payments of $2475.interrest is 6.12% compounded monthly. what is the size of the final payment? ( Round n upto 6 decimal places and money to 2 d.p.)
PV =
PMT =
I/Y =
C/Y =
i =
n =
For Last payment:
n =
Outstanding Balance =
Intrest =
Final Payment =

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Handbook Of Experimental Finance

Authors: Sascha Füllbrunn, Ernan Haruvy

1st Edition

1800372329, 978-1800372320

More Books

Students also viewed these Finance questions