1 troy juth wants to purchase new dive equipment for, Ask an Expert

Finance

1. Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $44,000 loan at 6% for 36 months. What is his monthly payment by formula? (Round your answer to the nearest cent.) Monthly payment $

2. David makes a sequence of 39 monthly deposits of $490 each into an account paying interest convertible monthly. Immediately after making the 39th deposit, the account balance is $20991.32 dollars. What is the nominal rate of interest convertible monthly?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92853767

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