Answered You can hire a professional tutor to get the answer.
QUESTION
If you were to borrow $10,000 over two years at 12% compounded monthly, what would be your monthly payment?
If you were to borrow $10,000 over two years at 12% compounded monthly, what would be your monthly payment?
If you were to borrow $10,000 over two years at 12% compounded monthly, what would be your monthly payment? Solution:We have FV = $10,000, n = 2*12 = 24 payments and I = 12%/12 = 1%Let the...