How soon would the loan in Problem 21 pay off if the borrower made a single additional

Question:

How soon would the loan in Problem 21 pay off if the borrower made a single additional payment of $17,936.29 to reduce principal at the end of the fifth year?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: