Question
For each of the following questions be sure to create a list that outlines the values for N, C/Y-P/Y, I/Y, P.V., and F.V., as well
For each of the following questions be sure to create a list that outlines the values for N, C/Y-P/Y, I/Y, P.V., and F.V., as well as to show any subsequent calculations.
A) A debt can be paid by payments of $2000 scheduled today, $2000 scheduled in three years, and $2000 scheduled in six years. What single payment would settle the debt four years from now if money is worth 2.3% compounded monthly? (Display the scenario on a timeline for full marks)
B) Interest of $6083.19 was charged on a student loan of $30,000 that was compounding semiannually for three years. If the interest rate (rounded to 2 decimal places) remains the same, how long (in years and months) will it take the new total of the loan to accumulate additional interest of at least $6000?
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