Ryan must pay off a loan of $3500 in 5 years. Use the appropriate formula to find the amortization payment he would need to make each six months, at 12% interest compounded semiannually. $475.34 $970.93 $195.69 $394.89

Ryan must pay off a loan of $3500 in 5 years. Use the appropriate formula to find the amortization payment he would need to make each six months, at 12% interest compounded semiannually. $475.34 $970.93 $195.69 $394.89

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 61P

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Question

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Ryan must pay off a loan of $3500 in 5 years. Use the appropriate formula to find the amortization payment he would need to make each six months, at 12% interest compounded semiannually.

$475.34

$970.93

$195.69

$394.89

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