Self Check Answers
Self Check Answers
-
, rounded up
-
- $449.04
- $261.03
- $215.57 payment; $934.20 interest
- $21,000
- No. For example, if the loan is at 0%, then three- quarters of it will be paid off after three-quarters of the term.
- $1800 interest; $187.50 payment; 11.4% APR
- No
- 2.91% APR; 2.95% EAR
- $195.30
- One reason is that because of inflation, the value (purchasing power) of a level payment would decline over the 25 or 30 years of the term of the annuity.
- $947,262.41