muhammad owes $11,106.00 on a loan for doing some house renovations. If he makes monthly payments of
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Question:
muhammad owes $11,106.00 on a loan for doing some house renovations. If he makes monthly payments of $560.48 (at the start of each period) how many periods will it take to pay off his loan? The interest rate is 1.175% compounded bi-weekly. (Answer to the nearest whole number.)
a.
n = 20.
b.
n = 22.
c.
n = 18.
d.
n = 21.
e.
n = 23.
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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