A 15-year loan requires month-end payments of $587.33 including interest at 8.4% compounded monthly. a. What was

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A 15-year loan requires month-end payments of $587.33 including interest at 8.4% compounded monthly.
a. What was the original amount of the loan?
b. What is the balance on the loan after half of the payments have been made?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:38 AM

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A 15-year loan requires month-end payments of $587.33 including interest at 8.4% compounded monthly. a. What was

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Business Mathematics In Canada

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