A $4600 loan at 9.0% compounded monthly was settled by a single payment of $5600 including accrued
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A $4600 loan at 9.0% compounded monthly was settled by a single payment of $5600 including accrued interest. How long after the initial loan was the $5600 payment made? For the purpose of determining the number of days in a partial month, assume that a full month has 30 days.
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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