Suppose that the following group of values was entered into the tvm solver
of a graphing calculator: n=240; 1%-15.6; pv=75000; pmt=-1021.0001,
fv=0; p/y=12; c/y=12; pmt: end. also suppose that the "bal(" function was
used as follows: bal(24), which of these expressions is equivalent to the
value returned by the "bal(" function?
a. $75 200 (1 + 0.156)2 + $1021 0001 -
5000+0 156 2 4104 1-(1 + 0.156)2
0.156
o
b. $75,000(1 + 0.156)24 + $1021 0001
1-(1+0.156) 24
0.156
oc. $75 000(1 +0.013)2 + 51021 000 1 - 1 4 01013)2 ]
o
1- (1 +0.013)24)
d. $75 200 (1 +0.013)24 + $ 1021 0001
0.013