Amaly deposits 500 Saudi Riyals at the end of each month (regular payment), for a period of

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Amaly deposits 500 Saudi Riyals at the end of each month (regular payment), for a period of two years to repay the loan she has, at a simple interest rate of 8%.

To calculate the total of equal payments, it is necessary to know the duration of the first payment and the duration of the last payment.

Given that the payment is made at the end of each month (regular payment),

What is the duration of the first payment (L1)?

What is the duration of the last payment (L2)?

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Financial Accounting Information For Decisions

ISBN: 978-0324672701

6th Edition

Authors: Robert w Ingram, Thomas L Albright

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Posted Date: Apr 03, 2024 08:44 PM

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Amaly deposits 500 Saudi Riyals at the end of each month (regular payment), for a period of

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Financial Accounting Information For Decisions

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