Essay
A court ruled in favour of Professor Dumbledore. Professor Dumbledore successfully claimed that that Professor Umbridge defaulted on two payments of 1000 galleons each. One payment was due 18 months ago and the other 11 months ago. What is the appropriate amount for the court to order Umbridge to pay immediately if the court uses 6% compounded monthly for the interest rate money can earn?
Correct Answer:
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i = 
= 0.005
PV = 1000 galleons
The amou...View Answer
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Correct Answer:
Verified
= 0.005PV = 1000 galleons
The amou...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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