With his financial target to be debt-free, Henrik replaced his credit card debt by borrowing $9000. He

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With his financial target to be debt-free, Henrik replaced his credit card debt by borrowing $9000. He is to make equal monthly payments over the next 42 months. What is the outstanding balance of the loan after 22 months if interest is 7.26% compounded monthly?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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