An auto repair shop borrowed $14000 to be repaid by semi dash annual payments over 8 years.
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An auto repair shop borrowed $14000 to be repaid by semi dash annual payments over 8 years. Interest on the loan is 9 % compounded semi dash annually.(a) What is the size of the periodic payment?(b) What is the outstanding principal after payment 10?(c) What is the interest paid on payment 11?(d) How much principal is repaid in payment 11?
Related Book For
Understanding Business Ethics
ISBN: 9781506303239
3rd Edition
Authors: Peter A. Stanwick, Sarah D. Stanwick
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