Question
Nicole initially borrowed $3,100 from Tangerine Bank at 4.77% compounded quarterly. After 2 years she repaid $1,271, then 6 years after the $3,100 was initially
Nicole initially borrowed $3,100 from Tangerine Bank at 4.77% compounded quarterly. After 2 years she repaid $1,271, then 6 years after the $3,100 was initially borrowed she repaid $1,147. If she pays off the debt 11 years after the $3,100 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 = C/Y = N = I/Y = % PV = $ PMT = $ FV = $
Amount owed after 2 years = $ (enter a positive value) Amount owed after the first payment of $1,271 (enter a positive value): $
P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $
Amount owed after 6 years = $ (enter a positive value) Amount owed after the second payment of $1,147 (enter a positive value): $
P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $ Final payment (after 11 years); (enter a positive value) $
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Behavioral Finance Psychology Decision-Making and Markets
Authors: Lucy Ackert
1st edition
324661177, 978-0538752862, 538752866, 978-1111781675, 1111781672, 978-1133455486, 978-0324661170
