Given the monthly payment as shown with interest as 1 % per month. Month 1 100 2 110 3 121 4 133.1 Up to Month 12. Find the 12th payment, the present worth of all payments , the future worth of all payments and the equivalent monthly payment.
Given the monthly payment as shown with interest as 1 % per month. Month 1 100 2 110 3 121 4 133.1 Up to Month 12. Find the 12th payment, the present worth of all payments , the future worth of all payments and the equivalent monthly payment.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Given the monthly payment as shown with interest as 1 % per month.
Month
1 100
2 110
3 121
4 133.1
Up to Month 12.
Find the 12th payment, the present worth of all payments , the future worth of all payments and the equivalent monthly payment.
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