A loan of $4000 at 13% is to be repaid by three equal payments due four, six,

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A loan of $4000 at 13% is to be repaid by three equal payments due four, six, and eight months after the date on which the money was advanced. Calculate the amount of each payment. Use the loan date as the focal date.

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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 07:07 AM

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A loan of $4000 at 13% is to be repaid by three equal payments due four, six,

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Business Mathematics In Canada

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