A loan of $4000 at 4.5% compounded monthly requires three payments of $1000 at 6, 12, and
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A loan of $4000 at 4.5% compounded monthly requires three payments of $1000 at 6, 12, and 18 months after the date of the loan, and a final payment of the full balance after two years. What is the amount of the final payment?
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Balance after the first payment PV1i n 1000 4000100375 ...View the full answer
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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