Question
For amortization problems, INPUT = AMORT -numbers of periods +1 1. How much interest will you pay in the 12th year of a $85,000, 5.5%,
For amortization problems, INPUT = AMORT -numbers of periods +1
1.How much interest will you pay in the 12th year of a $85,000, 5.5%, 25 year mortgage, assuming annual compounding? P/YR = 1
Get PMT first.
P/YR = 1
PV=-85,000, I/YR=5.5, N=1*25=25, PMT =?
Then, 12 INPUT , 12 AMORT
a. 3,059.287
b. 3,342.167
c. 3,5841.369
d. 3,8742.382
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Management and Cost Accounting
Authors: Colin Drury
10th edition
1473748873, 9781473748910 , 1473748917, 978-1473748873
