Question
Set-up an amortization table using the following information. Total Number of Months: Less than 414 months. Balance: 2500 Interest rate: 18% Monthly Payment: 2% of
Set-up an amortization table using the following information.
Total Number of Months: Less than 414 months.
Balance: 2500 Interest rate: 18%
Monthly Payment: 2% of the balance but not less than $10 You decide that you want to pay off the credit card in two years.
Use the PMT function to determine the monthly amount you would need to pay to have a balance of 0 at the end of 24 months.
What is the payment amount?
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Technical Change, Relative Prices, And Environmental Resource Evaluation
Authors: V Kerry Smith
1st Edition
1317358570, 9781317358572
