MIS 111 Lecture Notes - Lecture 13: Savings Account, Deposit Account

• School: University of Arizona
• Department: Management Info Systems Main
• Course: MIS 111
• Professor: W.Neumann, M.Patton

Document Summary

Calculating loan payments: pva = pmt ({1 [1/(1 + i)n]}/i, where, pva = present value of an ordinary annuity, pmt = payment, n = number of periods. If you are financing ,000 at 6% interest for three years, making annual payments, you know the following: i = interest rate per period i = . 06: pva = 15,000, n = 3. Annual loan payment calculation: pva = pmt (pvifai,n, 15,000 = pmt (2. 673, 5,611. 67 = pmt. Monthly payments: to determine your monthly payments, divide your interest rate by, your number of payments is now 36. Monthly loan payment calculation: extrapolating, you would find pvifa. 5, 36 equals 32. 871, pva = pmt (pvifai,n, 15,000 = pmt (32. 871, 456. 33 = pmt. Learn: lo 2-1 explain what gives paper currency value and how the. Evaluate: open the online goaltracker after completing worksheet 2. 1 and record the estimated costs and savings plans of your smart goals, assess how you are achieving your goals.