N = 5 years = FV = 10,500 P/Y = 12 PV C/Y 12 PMT = $200.61 PMT: END BEGIN Monthly payment would be $ 200.61 After making payments for 19 months, Natasha decides to repay the loan in full. Use this information and the monthly payment, found above, to calculate her payoff amount (PV) on the loan. How many payments does Natasha have left (Use this as N in the TVM Solver below)? Calculate the payoff amount (PV). N FV = 1% = P/Y = PV = C/Y = PMT= 1% = 5.51% PMT: END BEGIN
N = 5 years = FV = 10,500 P/Y = 12 PV C/Y 12 PMT = $200.61 PMT: END BEGIN Monthly payment would be $ 200.61 After making payments for 19 months, Natasha decides to repay the loan in full. Use this information and the monthly payment, found above, to calculate her payoff amount (PV) on the loan. How many payments does Natasha have left (Use this as N in the TVM Solver below)? Calculate the payoff amount (PV). N FV = 1% = P/Y = PV = C/Y = PMT= 1% = 5.51% PMT: END BEGIN
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question

Transcribed Image Text:P/Y = 12 PV
C/Y = 12 PMT = $200.61
PMT: END BEGIN
Monthly payment would be $
200.61
After making payments for 19 months, Natasha decides to repay the loan in full. Use this
information and the monthly payment, found above, to calculate her payoff amount (PV) on the loan.
How many
payments does Natasha have left (Use this as N in the TVM Solver below)? Calculate the payoff amount (PV). N
C/Y =
FV =
1% =
P/Y = PV =
N =
5 years
PMT =
FV = 10,500
PMT: END BEGIN
1% = 5.51%
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