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Tju [1.3M]
3 years ago
12

If P denotes the price of goods and services measured in terms of money, then:________.

Business
1 answer:
Margaret [11]3 years ago
8 0
The answer is A for sure
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An $11,000 mortgage has a 30-year term (requiring monthly payments) and a 6% nominal interest rate. (a) What is the monthly paym
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Answer:

Answer:

a) Monthly payment = $65.95

b) Remaining balance on her loan after making 12th payment = 11,000 - (65.95 x 12) = $10208.6

c) Interest paid in month 13 = 10208.6 * 0.5% = $51.043

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Explanation:

Using financial calculator:

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i/r = 6%/year = 0.5% / month

FV = 0

PMT = ? (Monthly payment = ?)

a) Monthly payment = $65.95

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  Principal paid in month 13 = $65.95 - 51.043 = $14.907

Explanation:

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