Which of the following should be used to compute the monthly payments on a home loan?...
Which of the following should be used to compute the monthly payments on a home loan?
future value of the amount of $1 at compound interest
present value of an annuity of $1 per period
present value of the amount of $1 at compound interest
future value of an annuity of $1 per period
Homework Answers
| The present value of an annuity of $1 per period should be used to compute the monthly payments on a home loan. |
| Present value of an annuity of $1 per period computes the monthly payments equal to the present value of the loan. |
| Option 2 is correct |
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Which of the following should be used to compute the monthly
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