If you borrowed $116,756.0 today at an annual interest rate of 1.0% and plan to repay this

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If you borrowed $116,756.0 today at an annual interest rate of 1.0% and plan to repay this loan by paying $11,675.60 per year, how many years will it take you to repay the loan?

Calculate the present value of a 3.0% annuity due that pays $3,579 per year for 10 years starting today?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: May 08, 2023 03:40 AM

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If you borrowed $116,756.0 today at an annual interest rate of 1.0% and plan to repay this

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SOLUTION 1 To calculate the number of years it will take to repay the loan we can use the formula fo... View the full answer

Personal Finance

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