A $60,000 loan at 12% compounded semi-annually is to be repaid by monthly payments of $1,000.
-What is the size of the final payment?
A) $685.83
B) $692.53
C) $1,000.00
D) $307.47
E) $726.98
Correct Answer:
Verified
Q9: A loan of $12,000 with interest
Q10: A loan of $12,000 with interest
Q11: A $60,000 loan at 12% compounded
Q12: An $80,000 loan is amortized by monthly
Q13: A $13,000 loan is to be amortized
Q15: An $80,000 loan is amortized by monthly
Q16: A loan of $32,000 at 6% compounded
Q17: A $67,800 loan is to be repaid
Q18: A car loan is to be repaid
Q19: An $80,000 loan is amortized by
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents