Homework Answers
Here,
Total Principal,P = $250,000
Monthly interest rate, r = 0.30%
Number of months, n = 72
So ,
Easy Monthly istallments = (P*r*(1+r)^(n))/((1+r)^(n) - 1) = 3865.897
Cash Flow diagram = 250000 and onthly payments of 3867.897 per month
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Question 47
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Question 47
To start a new business, Wima intends to borrow $22,700 from a
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transaction. With annual compounding, what nominal rate would the
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places, e.g. 15%.)
Effective annual interest rate
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