The interest rate on a $100,000 loan is 6% compounded monthly. How much longer will it take
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The interest rate on a $100,000 loan is 6% compounded monthly. How much longer will it take to pay off the loan with end-of month payments of $1000 than with end-of-month payments of $1050?
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The original loan equals the present value of all payments That is only 130 ...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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