Levels Tought:
Elementary,Middle School,High School,College,University,PHD
Teaching Since: | May 2017 |
Last Sign in: | 303 Weeks Ago, 4 Days Ago |
Questions Answered: | 66690 |
Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Loan P a yments. Reconsider the car loan in the previous question. What if the payments are made in four annual year-end installments? What annual payment would have the same pres- ent value as the monthly payment you calculated? Use the same effective annual interest rate as in the previous question. Why is your answer not simply 12 times the monthly payment?
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