Homework Answers
rate positively ..
| Ans A) | Value at 11th year | ||
| We have to use financial calculator to solve this | |||
| put in calculator | |||
| PMT | 0.00 | ||
| PV | -13500 | ||
| I | 8.44%/4 | 2.110% | |
| N | 11*4 | 44 | |
| compute FV | $33,832.80 | ||
| Ans = | $33,832.80 | ||
| Ans B) | Interest amount= | $20,332.80 | |
| 33832.80-13500 | |||
| Ans= | $20,332.80 | ||
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