Teresa borrowed $8500 at an interest rate of 8% compounded quarterly. Two years after the loan was
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Teresa borrowed $8500 at an interest rate of 8% compounded quarterly. Two years after the loan was advanced she made a payment of $3000. Five years after the loan was advanced she made a payment of $2000. What final payment made 8 years after the loan was advanced will extinguish the debt?
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For the first 2 years PV 8500 i 84 20 n 42 8 Amount owed af...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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