Present value with periodic rates.
Cooley Landscaping needs to borrow ?$28,000 for a new? front-end dirt loader. The bank is willing to loan the money at 8.5% interest for the next 10 years with annual, semiannual, quarterly, or monthly payments. What are the different payments that Cooley Landscaping could choose for these different payment? plans?
What is? Cooley's payment for the loan at 8.5% interest for the next 10 years with annual ?payments?
?$_____?(Round to the nearest? cent.)
What is? Cooley's payment for the loan at 8.5% interest for the next 10 years with semiannual ?payments?
?$____?(Round to the nearest? cent.)
What is? Cooley's payment for the loan at 8.5% interest for the next 10 years with quarterly ?payments?
?$___ (Round to the nearest? cent.)
What is? Cooley's payment for the loan at 8.5% interest for the next 10 years with monthly ?payments?
?$____ ?(Round to the nearest? cent.)