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Suppose that the following group of values was entered into the TVM Solve of a graphing calculator: N=240; 1%-15.6; PV=75000; PMT=-1021.0001; FV=0; P/Y=12; C/Y=12;
Suppose that the following group of values was entered into the TVM Solve of a graphing calculator: N=240; 1%-15.6; PV=75000; PMT=-1021.0001; FV=0; P/Y=12; C/Y=12; PMT:END. Also suppose that the "bal(" function was used as follows: bal(24). Which of these expressions is equivalent to the value returned by the "bal(" function? A. $75,000 (1+0.156)24 + $1021.0001 1-(1+0.156)24 1/1-11- 0.156 B. $75,000 (1+0.156)2 + $1021.0001 1-(1+0.156)2 0.156 C. $75,000 (1+0.013) 24 + $1021.0001 1-(1+0.013)241 0.013
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Statistical Methods For The Social Sciences
Authors: Alan Agresti
5th Edition
013450710X, 978-0134507101
