Question
You want to borrow $65000 from your local bank to buy a new sailboat for 5 years. The rate of interest for the loan is
You want to borrow $65000 from your local bank to buy a new sailboat for 5 years. The rate of interest for the loan is 12% p.a. compounded monthly? Which equation is correct below related to this question if C is the monthly payment?
Select one:
a. 65000=C/0.1265000=C/0.12
b. None of these
c. 65000=(C/0.12)(11/(1+0.12)(60))65000=(C/0.12)(11/(1+0.12)(60))
d. (65000=(C/0.01)(11/(1+0.01)(60))
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Production And Operations Analysis
Authors: Steven Nahmias, Tava Lennon Olsen
7th Edition
1478623063, 9781478623069
