PLEASE ANSWER BOTH QUESTIONS! 1.What is the quarterly interest rate for Victor's loan if he...
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PLEASE ANSWER BOTH QUESTIONS!
1.What is the quarterly interest rate for Victor's loan if he borrowed $5,300.00 today, he must make equal quarterly payments of $830.00, with the first quarterly payment due later today and the last quarterly payment due in 6 quarters?(Round the value to 100th decimal) 10 points
QUESTION 2 If Johnny has $50,100.00 to invest in an investment that makes fixed monthly payments of $970.00, how many monthly payments will he receive if he receives his first fixed monthly payment today and his return is 1.44% per month?(Round the value to 100th decimal)
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