A $30,000 loan bearing interest at 9% compounded monthly was repaid, after a period of deferral, by

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A $30,000 loan bearing interest at 9% compounded monthly was repaid, after a period of deferral, by monthly payments of $425.10 for 10 years. What was the time interval between the date of the loan and the first payment?

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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 $30,000 loan bearing interest at 9% compounded monthly was repaid, after a period of deferral, by

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With the focal date 1 month before the first payment Future value of original principal Pres...View the full answer

Business Mathematics In Canada

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