Martinez and martinez Inc. makes monthly payments of 152.11 and pays 6% interest compounded monthly on a
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Question:
Martinez and martinez Inc. makes monthly payments of 152.11 and pays 6% interest compounded monthly on a current loan. The initial loan was scheduled to be paid off in 3 years. Determine the loan amount.
The answer is 5,000 but idk how that is can some body please explain
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: