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Suppose that the following group of values was entered into the tvm solver of a graphing calculator: n=240; 1%=13.2; pv=95000; pmt=1126.5599; fv=0; p/y=12; c/y=12; pmt:end. Also…

Suppose that the following group of values was entered into the tvm solver of a graphing calculator: n=240; 1%=13.2; pv=95000; pmt=1126.5599; fv=0; p/y=12; c/y=12; pmt:end. Also…
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Suppose that the following group of values was entered into the tvm solver of a graphing calculator: n=240; 1%=13.2; pv=95000; pmt=1126.5599; fv=0; p/y=12; c/y=12; pmt:end. Also suppose that the "bal(" function was used as follows: bal(36). Which of these expressions is equivalent to the value returned by the "bal(" function?

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User Bertil Chapuis
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1 Answer

6 votes

Answer: A. 85,000(1+0.012)48 +$1081.7751 [1-(1+0.012)48]

0.012

Explanation:

Suppose that the following group of values was entered into the tvm solver of a graphing-example-1
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User Mohnston
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8.2k points
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