Trent borrowed $18,000, which he will repay with quarterly payments of $1000, and a final, smaller payment.
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Trent borrowed $18,000, which he will repay with quarterly payments of $1000, and a final, smaller payment. The interest rate on the loan is 6% compounded monthly. How much interest will Trent pay altogether during the life of the loan?
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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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