Question
Janine borrowed $30,000 from her bank. Monthly payments are $730, including interest at 6.3% compounded quarterly. a. How many payments will Janine make altogether? (Do
Janine borrowed $30,000 from her bank. Monthly payments are $730, including interest at 6.3% compounded quarterly. |
| a. | How many payments will Janine make altogether? (Do not round intermediate calculations and round your answer up to the next whole number.) |
| No. of payments |
| b. | How much is the last payment? (Do not round intermediate calculations and round your answer to 2 decimal places.) |
| Last payment | $ |
| c. | How much interest will Janine pay over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places.) |
| Total interest | $ |
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Solution a PV PMT 30000 730 12 21 2 1 0021 0137 ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
