Question: Business Math Compound Interest. Please Answer Correctly! A $4,700 loan at 8.7% compounded monthly was settled by a single payment of $5,700 including accrued interest.

Business Math Compound Interest.

Please Answer Correctly!

Business Math Compound Interest. Please Answer Correctly! A $4,700 loan at 8.7%

A $4,700 loan at 8.7% compounded monthly was settled by a single payment of $5,700 including accrued interest. How long after the initial loan was the $5,700 payment made? For the purpose of determining the number of days in a partial month, assume that a full month has 30 days. (Do not round intermediate calculations. Round your answer to the nearest day.) years months days

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