You have borrowed $14,300 at a compound annual interest rate of 15 percent. You feel that you

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You have borrowed $14,300 at a compound annual interest rate of 15 percent. You feel that you will be able to make annual payments of $3,000 per year on your loan. (Payments include both principal and interest.) How long will it be before the loan is entirely paid off (to the nearest year)?
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Fundamentals Of Financial Management

ISBN: 9780273713630

13th Revised Edition

Authors: James Van Horne, John Wachowicz

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