NOTETOR THE What payment is required to pay off a $91,000 loan in nine years if the interest rate on the loan is 5.4% compounded Bimonthl not round intermediate calculations and round your final answers to 2 decimal places.) Payment Freq Required payment a. Annually $ b. Semiannually $ c. Quarterly $ d. Monthly $

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 26P
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NOTETOR THE
What payment is required to pay off a $91,000 loan in nine years if the interest rate on the loan is 5.4% compounded Bimonthl
not round intermediate calculations and round your final answers to 2 decimal places.)
Payment Freq
Required
payment
a. Annually
$
b. Semiannually
$
c. Quarterly
$
d. Monthly
$
Transcribed Image Text:NOTETOR THE What payment is required to pay off a $91,000 loan in nine years if the interest rate on the loan is 5.4% compounded Bimonthl not round intermediate calculations and round your final answers to 2 decimal places.) Payment Freq Required payment a. Annually $ b. Semiannually $ c. Quarterly $ d. Monthly $
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