Present value (amount of loan) $25,000 length of time(years): 5 annual rate 10% Compounding periods per year : 4 1. number of compounding periods- 2 periodic interest rate- 3 FV factor used 4. FV of amount (Amount received by Lee) -
Present value (amount of loan) $25,000 length of time(years): 5 annual rate 10% Compounding periods per year : 4 1. number of compounding periods- 2 periodic interest rate- 3 FV factor used 4. FV of amount (Amount received by Lee) -
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
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Present value (amount of loan) $25,000
length of time(years): 5
annual rate 10%
Compounding periods per year : 4
1. number of compounding periods-
2 periodic interest rate-
3 FV factor used
4. FV of amount (Amount received by Lee) -
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