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years ago, you owed the CRA (Canada Revenue Agency) $5,000 in income taxes. You were a full-time student then so CRA agreed that no ayments
years ago, you owed the CRA (Canada Revenue Agency) $5,000 in income taxes. You were a full-time student then so CRA agreed that no ayments until today (you have just started working). You pay them $2,000 today and starting in 1 month you will make your first of 6 monthly ayments to pay off the remaining balance plus interest. CRA charges 6%, compounded monthly, starting from when the tax was due 2 years alculate your monthly payment. ANSWER: (in 2 decimal places) o solve this problem, you will be creating a table with the following format BIE PIY C/Y N 1/Y PV PMT FV A= BE vpe the value of A below ype the value of B below years ago, you owed the CRA (Canada Revenue Agency) $5,000 in income taxes. You were a full-time student then so CRA agreed that no ayments until today (you have just started working). You pay them $2,000 today and starting in 1 month you will make your first of 6 monthly ayments to pay off the remaining balance plus interest. CRA charges 6%, compounded monthly, starting from when the tax was due 2 years alculate your monthly payment. ANSWER: (in 2 decimal places) o solve this problem, you will be creating a table with the following format BIE PIY C/Y N 1/Y PV PMT FV A= BE vpe the value of A below ype the value of B below
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