Homework Answers
2.7 PV = 8000
Loan Rate = 11%
Number of Periods(n) = 6
Annual Payment PMT = 8000/(1-(1+11%)-6)/11% =
1,891.01
2.8 PMT = 250
Number of Periods = 8
Rate = 6%
PV = 250*(1-(1+6%)-8)/6% = 1552.45
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