Dempsey Electric wishes to pay off a debt of $28,000 in 3 years. What amortization payment would they need to make every month, at 12% interest compounded monthly? (Use Table 12-2 from your text)
A) $625.00
B) $844.12
C) $930.00
D) $706.10
Correct Answer:
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Q54: Find the amortization payment you would need
Q55: Use Table 12-1 from your text
Q56: Use Table 12-1 from your text
Q57: What amortization payment would you need to
Q58: Find the sinking fund payment you would
Q60: Use Table 12-1 from your text
Q61: For the sinking funds, use Table
Q62: Use Table 12-2 from your text
Q63: Use Table 12-2 from your text
Q64: For the sinking funds, use Table
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