Which of the Following Would Not Produce the Correct Monthly

question 6

Multiple Choice

Which of the following would not produce the correct monthly payment on a loan of $13,000 which will be paid off in 5 years with an annual interest rate of 6%?

• A)=PMT(6%,60,-13000)
• B)=PMT(.5%,60,-13000)
• C)=PMT(.5%,5*12,-13000)
• D)=PMT(6%/12,60,-13000)

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Definitions:

Minor Contracts

Agreements entered into by individuals under the age of legal majority, which are often voidable at the discretion of the minor.

Pre-Injury Waiver

A pre-injury waiver is a legal agreement where a participant in an activity agrees to waive their right to sue the provider for any injuries that might occur, effectively absolving the provider of liability.

Summary Judgment

A legal determination made by a court without a full trial, granted when one party's evidence clearly shows there is no factual dispute, thereby avoiding the need for a trial.

Intoxicated Parties

Individuals under the influence of alcohol or drugs, particularly in legal contexts where their capacity to consent or make decisions is questioned.