While Mary Corns was a student at the University of Tennessee, she borrowed $12,000 in student loans

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While Mary Corns was a student at the University of Tennessee, she borrowed $12,000 in student loans at an annual interest rate of 9 percent. If Mary repays $1,500 per year, how long, to the nearest year, will it take her to repay the loan?

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Financial management theory and practice

ISBN: 978-0324422696

12th Edition

Authors: Eugene F. Brigham and Michael C. Ehrhardt

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Question Posted: Mar 16, 2010 05:50 AM

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The correct entry should be Debit: Armstrong, Capital $48,000 Credit: Cash $58,000 Debit: Jackson, Capital $5,000 Debit: Tanner, Capital $5,000

While Mary Corns was a student at the University of Tennessee, she borrowed $12,000 in student loans

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Financial management theory and practice

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