A loan of $2000 was repaid together with interest of $604.35. If interest was 8% compounded quarterly,

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A loan of $2000 was repaid together with interest of $604.35. If interest was 8% compounded quarterly, for how many months was the loan taken out?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:51 AM

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A loan of $2000 was repaid together with interest of $604.35. If interest was 8% compounded quarterly,

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PV 200000 I 60435 FV 260435 I Y 8 C Y 4 2 002 2...View the full answer

Contemporary Business Mathematics with Canadian Applications

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