A $3000 loan on March 1 was repaid by payments of $500 on March 31, $1000 on

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A $3000 loan on March 1 was repaid by payments of $500 on March 31, $1000 on June 15, and a final payment on August 31. How much was the third payment if the interest rate on the loan was 8.25%?

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 16, 2020 03:58 AM

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A $3000 loan on March 1 was repaid by payments of $500 on March 31, $1000 on

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Given that total loan amount3000 Interest8252475 paid mo...View the full answer

Fundamentals Of Business Mathematics In Canada

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