Equal end of year payments of $263.80 each are being made on a $1,000 loan at 10%

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Equal end of year payments of $263.80 each are being made on a $1,000 loan at 10% per year compounded monthly. Immediately after the third payment, what lump sum amount would completely pay off the loan?

Related Book For answer-question

Calculus

ISBN: 978-0131429246

9th edition

Authors: Dale Varberg, Edwin J. Purcell, Steven E. Rigdon

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Posted Date: Oct 27, 2022 09:59 AM

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Equal end of year payments of $263.80 each are being made on a $1,000 loan at 10%

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Calculus

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