Mathematics

Guest

30 May, 19:35

Caroline took out an 8-month loan for $900 at an appliance store to be paid

back with monthly payments at a 21.6% APR, compounded monthly. If the

loan offers no payments for the first 2 months, which of these groups of

values plugged into the TVM Solver of a graphing calculator will give her the

correct answer for the amount of the monthly payment over the last 6 months

of the loan?

O

O

A. N=6; 1% = 21.6; PV=-900; PMT=; FV=0; P/Y=12; C/Y=12; PMT:END

B. N=6; 1% = 21.6; PV=-932.69; PMT=; FV=0; P/Y=12; C/Y=12;

PMT:END

O

C. N=0.5; 1% = 21.6; PV=-932.69; PMT=; FV=0; P/Y=12; C/Y=12;

PMT:END

O

D. N=0.5; 1% = 21.6; PV=-900; PMT=; FV=0; P/Y=12; C/Y=12: