Question 10 Sally is looking at mortgages. One lender presents her with an offer for a $180, 000 loan with monthly payments of S 1,215.00 over 20 years. She pull out her calculator and enters the following: N 20, PMT --1215, PV = 180000, FV = 0, and computes for the interest rate (i) Which of the following are corrections Sally should make to her entry? N should be 240 All of the Sally's entries are correct i should be 0, and she should calculate the FV PV should be 0, and FV should be 180,000

Question 10 Sally is looking at mortgages. One lender presents her with an offer for a $180, 000 loan with monthly payments of S 1,215.00 over 20 years. She pull out her calculator and enters the following: N 20, PMT --1215, PV = 180000, FV = 0, and computes for the interest rate (i) Which of the following are corrections Sally should make to her entry? N should be 240 All of the Sally's entries are correct i should be 0, and she should calculate the FV PV should be 0, and FV should be 180,000

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter5: Making Automobile And Housing Decisions

Section: Chapter Questions

Problem 7FPE

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