Dr Nick

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About Dr Nick

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Art & Design,Computer Science See all
Art & Design,Computer Science,Engineering,Information Systems,Programming Hide all
Teaching Since: May 2017
Last Sign in: 246 Weeks Ago
Questions Answered: 19234
Tutorials Posted: 19224

Education

  • MBA (IT), PHD
    Kaplan University
    Apr-2009 - Mar-2014

Experience

  • Professor
    University of Santo Tomas
    Aug-2006 - Present

Category > Business & Finance Posted 18 Jul 2017 My Price 10.00

The annual interest rate on the loan is 7.96 percent of the unpaid balance.

Homework #3C (How much will each annual payment be (Using FV or PV))

Finance 330

Question 2 (1 point)

 

A commercial bank will loan you $41,770 for 6 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 7.96 percent of the unpaid balance. What is the amount of the monthly payments?

Round the answer to two decimal places.

Answers

Dr Nick
(3)
Status NEW Posted 18 Jul 2017 04:07 PM My Price 10.00

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