Question
The figure below shows a contour diagram for the monthly payment P as a function of the interest rate r% and the amount L of
The figure below shows a contour diagram for the monthly payment P as a function of the interest rate r% and the amount L of a five year loan. For each of the following points, estimate Pr & PL.
A) r=8, L=8000
B)r=13, L=7000 (This ones answers should be 3.33&0.02, but need to know how)
LIS) 8000 7000 140 6000 5000 100 4000 3000 2000 r(%) 1 3 5 7 9 11 13 15Step by Step Solution
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
4th Edition
0471730513, 978-0471730514
