Question: Final answer Q7. You started a new business by borrowing SR180,000, and the loan should be paid 18 equal monthly installments at 8% compounded monthly.

Final answer Q7. You started a new business by borrowing SR180,000, and Final answer

Q7. You started a new business by borrowing SR180,000, and the loan should be paid 18 equal monthly installments at 8% compounded monthly. Determine the remaining loan balance right after the 12 th payment. a. SR 74,139 b. SR 91,470 c. SR 81,817 d. SR87,726 e. SR 77,097

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