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Chapter 6
Question 2
EAR= 1+
1+
0.05
12
APR m
1
m
12
) 1
1.051161
EAR = 0.05116 = 5.12%
Question 5
Calculating monthly interest on personal line of credit:
30
365
)
5000.05
I =$ 2.05
Interest on principal:
P=BAPR
5000.05
= $25
Daves Total first monthly Loan payment = 25 + 2.05 = $ 27.05
Chapter 7
Financial Planning Problem: Question 2
( 365n )
I=BAPR
Chapter 10
Question 2