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: