Logan had seamless rain gutters installed around her home at a cost of $1,500. She financed the total amount for 18 months at an annual interest rate of 2.5% compounded monthly. What s the amount of her monthly payment? (Round your answer to the nearest cent.) After making 12 payments, Logan decided to repay the loan in full. How many payments did she have left at this time? payments What is Logan's payoff (in dollars)? (Round your answer to the nearest cent.)

Logan had seamless rain gutters installed around her home at a cost of $1,500. She financed the total amount for 18 months at an annual interest rate of 2.5% compounded monthly. What s the amount of her monthly payment? (Round your answer to the nearest cent.) After making 12 payments, Logan decided to repay the loan in full. How many payments did she have left at this time? payments What is Logan's payoff (in dollars)? (Round your answer to the nearest cent.)

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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