a. How long will it take monthly payments of $600 to repay a $65,000 loan if the

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a. How long will it take monthly payments of $600 to repay a $65,000 loan if the interest rate on the loan is 9.5% compounded semiannually?
b. How much will the time to repay the loan be reduced if the payments are $50 more per month?

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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 07:47 AM

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a. How long will it take monthly payments of $600 to repay a $65,000 loan if the

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a Original loan Present value of all payments The loan will be paid off after 238 mo...View the full answer

Business Mathematics In Canada

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