Question
Refer to the below. You borrow $10,000 for 3 years. You are required to repay the amount in equal monthly repayments commencing in 1 month
Refer to the below.
You borrow $10,000 for 3 years. You are required to repay the amount in equal monthly repayments commencing in 1 month from today. If the interest rate is 7.2% compounding monthly, the formula that we can enter to cell B5 to calculate the amount of the repayment is:
Select one or more:
A. =PMT(B4/B2,B2*B3,-B1)
B. =PMT(B2/B3,B3*B4,-B1)
C. =PMT(B4/B2,B2*B3,-B1,0,1)
D. =PMT(B4/B2,B2*B3,-B1,1,0)
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Foundations Of Financial Management
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
13th Edition
0073382388, 978-0073382388
