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Present and future value tables of $1 at 3% are presented below: 1 N 1 2 11.11 points 3 4 8 02:28:21 5 6 7. FV $1 1.03000 1.0
Thterest is at b. What is the amount of each payment? Multiple Choice $27,052 $21,875 $22.531 $27,864 Prey 1 of 9 Next > MacB
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Answer #1

rate positively ..

We have to use financial calculator to solve this
put in calculator
FV 0
PV -350000
I 3%
N 16
Compute PMT $27,864
Ans = $27,864
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