Question
Tammie wants to buy a scooter that costs $3,500. Her mom will loan her the money at 5% annual interest as long as she makes
Tammie wants to buy a scooter that costs $3,500. Her mom will loan her the money at 5% annual interest as long as she makes monthly payments over the next 3 years. How much will Tammie's monthly payment be?
| N |
|
| I/Y |
|
| PV |
|
| PMT |
|
| FV |
|
Harrison wants to double his money in 10 years. What annual rate of return must he find in an investment to reach his goal?
| N | 10 |
| I/Y | 7.2% |
| PV |
|
| PMT |
|
| FV |
|
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Experiences With Financial Liberalization
Authors: K. L. Gupta
1st Edition
079239853X, 978-0792398530
