Find the Payment Necessary to Amortize the Loan

question 45

Multiple Choice

Find the payment necessary to amortize the loan.
-$12,800; 12% compounded monthly; 48 monthly payments

• A) $1542.69
• B) $337.31
• C) $331.71
• D) $337.07

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Definitions:

PivotTable Fields Pane

An interface element in spreadsheet software that allows users to manage the fields and layout of a PivotTable.

PivotTable

An interactive table in spreadsheet software that automatically sorts, counts, and summarizes data, allowing for dynamic data analysis.

Picture Effect

Digital enhancements applied to images to alter their appearance, such as shadows, glows, reflections, or 3D effects.

Slicer

A tool in spreadsheet applications, like Microsoft Excel, used to filter data in tables, pivot tables, or pivot charts, allowing a more interactive data exploration experience.