Question: Problem # : If no payments are made, a loan of amount S24000 would increase to S26677 50 after 2 years of monthly compounding interest.

Problem # : If no payments are made, a loan of

Problem # : If no payments are made, a loan of amount S24000 would increase to S26677 50 after 2 years of monthly compounding interest. If instead, payments of S389.87 are made at the end of each month, how many years would it be until the loan is paid off? Answer rounded to the nearest integer number of years Problem #2: Just Save Submit Problem #2 for Grading Problem #2 | Attempt#1 | Attempt #2 | Attempt #3 | Attempt#4 | Attempt # Your Answer: Your Mark 0/2x

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