Lenny D. answered • 05/10/20

Financial Professional with many years of Wall Street Experience

Using the Same formula as the 3 previous questions,

PV= Max Loan amount = PMT*B(i,T) and PMT = 1200. Calculate B(i,T) = B(6%/12, 360)

=(12/.06)(1-(1/(1.005))^{360}) I will let you complete the calculation

Lenny D.

05/10/20

Lenny D.

05/10/20