2. Find the payment needed to pay the following loans. a) $12 500 at 8% compounded quarterly for 15 years. b) $7 500 at 7.25% compounded monthly for 5 years.
2. Find the payment needed to pay the following loans. a) $12 500 at 8% compounded quarterly for 15 years. b) $7 500 at 7.25% compounded monthly for 5 years.
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 25E
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2. Find the payment needed to pay the following loans. a) $12 500 at 8% compounded quarterly for 15 years. b) $7 500 at 7.25% compounded monthly for 5 years.
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