Homework Answers
1.
Using financial calculator
N=60
I/Y=7.7%/12
PV=-30100
FV=0
CPT PMT=606.01
2.
N=17
I/Y=7.7%/12
PMT=-606.01
FV=0
CPT PV=9730.59
The amount needed to pay off this loan with 17 payments remaining is 9730.59
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