Calculate the amount of loan payment per period

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Reference no: EM131915815

1. Suppose that a $9,800/ acre loan is expected to be fully amortized at 22% over 5 years. Calculate the amount of loan payment per period.

$2,669

$4,387

$3,422

$2,805

None of the answers are correct

2. Suppose that a $3,900/ acre loan is expected to be fully amortized at 25% over 15 years. Calculate the amount of loan payment per period.

$757

$1,347

$808

$1,010

None of the answers are correct

Reference no: EM131915815

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