A 24 year loan with monthly repayments has 12 years remaining.

Calculate "n"

Question

A 24 year loan with monthly repayments has 12 years remaining.

Calculate "n"

BlackTom AI · Accepted Answer

The question asks for n, where n typically denotes the number of payment periods remaining on a loan with monthly repayments.
Since the loan has 12 years remaining and payments are monthly, convert years to months: 12 years × 12 months/year = 144 months.
Therefore, n = 144, representing 144 monthly payments remaining.
Note: if you were asked for the total amount paid over the remaining life of the loan, you would multiply the monthly payment by n (144), but here the focus is specifically on the number of payments, not the total cost.

BFIN011 Week 3: Practice Quiz

A 24 year loan with monthly repayments has 12 years remaining. Calculate "n"

查看解析

登录即可查看完整答案

类似问题

Nper in the FV function:

A 25 year loan with monthly repayments has 11 years remaining. Calculate "n"

A 21 year loan with monthly repayments has 11 years remaining. Calculate "n"

If my loan is for 4 years and I make one repayment per month, what value will the nper be?

If my loan is for 4 years and I make one repayment per month, what value will the nper be?

In a consumer society, many adults channel creativity into buying things

Economic stress and unpredictable times have resulted in a booming industry for self-help products

People born without creativity never can develop it

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单