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Marissa initially borrowed $3,300 from RBC Bank at 2.96% compounded quarterly. After 3 years she repaid $1,188, then 7 years after the $3,300 was initially
Marissa initially borrowed $3,300 from RBC Bank at 2.96% compounded quarterly. After 3 years she repaid $1,188, then 7 years after the $3,300 was initially borrowed she repaid $1,122. If she pays off the debt 9 years after the $3,300 was initially borrowed, how much should her final payment be to clear the debt completely? Round all answers to two decimal places if necessary. P/Y = 4 C/Y = 4 N = 21 1/4 = 2.96 O % PV = $ 3,300 PMT = $ 0 FV = $ Amount owed after 3 years = $ (enter a positive value) Amount owed after the first payment of $1,188 (enter a positive value): $ P/Y = 4 CNY = 4 OM N= I/= 2.96 0 % PV = $ 1,188 X PMT = $ 0 FV = $ Amount owed after 7 years = $ (enter a positive value) Amount owed after the second payment of $1,122 (enter a positive value): 2.96 PY = 4 OM CNY = 4 o N = I/Y = 2.96 go % PV = $ PMT = $ 0 OS FV = $ Final payment (after 9 years); (enter a positive value) $ Marissa initially borrowed $3,300 from RBC Bank at 2.96% compounded quarterly. After 3 years she repaid $1,188, then 7 years after the $3,300 was initially borrowed she repaid $1,122. If she pays off the debt 9 years after the $3,300 was initially borrowed, how much should her final payment be to clear the debt completely? Round all answers to two decimal places if necessary. P/Y = 4 C/Y = 4 N = 21 1/4 = 2.96 O % PV = $ 3,300 PMT = $ 0 FV = $ Amount owed after 3 years = $ (enter a positive value) Amount owed after the first payment of $1,188 (enter a positive value): $ P/Y = 4 CNY = 4 OM N= I/= 2.96 0 % PV = $ 1,188 X PMT = $ 0 FV = $ Amount owed after 7 years = $ (enter a positive value) Amount owed after the second payment of $1,122 (enter a positive value): 2.96 PY = 4 OM CNY = 4 o N = I/Y = 2.96 go % PV = $ PMT = $ 0 OS FV = $ Final payment (after 9 years); (enter a positive value) $
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