A $60,000 Loan at 12% Compounded Semi-Annually Is to Be

question 91

Multiple Choice

A $60,000 loan at 12% compounded semi-annually is to be repaid by monthly payments of $1,000.
-What is the size of the final payment?

• A) $685.83
• B) $692.53
• C) $1,000.00
• D) $307.47
• E) $726.98

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Definitions:

U.S. Army

The land warfare service branch of the United States Armed Forces, responsible for land-based military operations.

Instrumental Values

Values or ethical standards that are viewed as a means to an end, guiding how we achieve our goals.

Enabling Values

Refers to values that empower individuals or organizations to achieve goals or enhance performance.

Personal Courage

The ability of an individual to face fear, danger, or adversity with strength and resolve.