For how long will Zack have to make payments of $166.00 at the end of every...

 

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For how long will Zack have to make payments of $166.00 at the end of every six months to repay a loan of $3452.00 if interest is 5% compounded semi-annually? State your answer in years and months (from 0 to 11 months). Zack will have to make payments for year(s) and month(s). For how long will Zack have to make payments of $166.00 at the end of every six months to repay a loan of $3452.00 if interest is 5% compounded semi-annually? State your answer in years and months (from 0 to 11 months). Zack will have to make payments for year(s) and month(s).

Answer rating: 100% (QA)

To calculate the time Zack will have to make payments we can use the formula for the future value of ... View the full answer