Elmer took out an 18-month loan for $1400 at an appliance store to be paid
back with monthly payments at a 22.8% apr, compounded monthly. if the
loan offers no payments for the first 9 months, which of these groups of
values plugged into the tvm solver of a graphing calculator will give him the
correct answer for the amount of the monthly payment over the last 9 months
of the loan?
o
a. n=0.75; 1% = 22.8; pv=-1400; pmt=; fv=0; p/y=12; c/y=12;
pmt: end
o
b. n=9; 1% = 22.8; pv=-1400; pmt=; fv=0; p/y=12; c/y=12;
pmt: end
o
c. n=0.75; 1% = 22.8; pv=-1658.42; pmt=; fv=0; p/y=12; c/y=12;
pmt: end
o
d. n=9; 1% = 22.8; pv=-1658.42; pmt=; fv=0; p/y=12; c/y=12;
pmt: end