A loan of $5,000 is to be repaid over a 2 year period through equal...
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Accounting
A loan of $5,000 is to be repaid over a 2 year period through equal quarterly installments with an interest rate of 12% per year compounded quarterly. Determine the size of each installment. Use the TVM solver on the calculator, fill in the information that you typed in the calculator. Work Here (Keyboard only): N = FV = 1% = P/Y = PV = C/Y = PMT = PMT: (End/Begin) Answer Here (Keyboard only): Calculator display: Final Answer: Verify the installment amount by displaying the amortization schedule. You only need to type in the missing values, you do not need to type any work in the boxes. There may be more rows than needed. Answer Here (Keyboard only): End of Period Interest Charged Repayment Made Payment Toward Principal Outstanding Principal 0
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