Sainsbury wishes to determine how long it will take to repay a loan with initial proceeds of
Fantastic news! We've Found the answer you've been seeking!
Question:
Sainsbury wishes to determine how long it will take to repay a loan with initial proceeds of $14,000 where annual end-of-year installment payments of $2,450 are required. If Mia can borrow at a 12% annual rate of interest, how long will it take for her to repay the loan fully?
Posted Date: