A loan of $4200 is due in 7 years. If money is worth 3.7% compounded annually, find the equivalent payments that would settle the debt at the times shown ben (a) now (b) in 2 years (d) in 10 years (c) in 7 years (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The equivalent loan payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The equivalent loan payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The equivalent loan payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
A loan of $4200 is due in 7 years. If money is worth 3.7% compounded annually, find the equivalent payments that would settle the debt at the times shown ben (a) now (b) in 2 years (d) in 10 years (c) in 7 years (a) The equivalent loan payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The equivalent loan payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The equivalent loan payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The equivalent loan payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 17P
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Transcribed Image Text:A loan of $4200 is due in 7 years. If money is worth 3.7% compounded annually, find the equivalent payments that would settle the debt at the times shown be
(a) now
(b) in 2 years
(d) in 10 years
(c) in 7 years
(a) The equivalent loan payment is S
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(b) The equivalent loan payment is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(c) The equivalent loan payment is $.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(d) The equivalent loan payment is $.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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