A loan of $16,525 at 10.8% compounded monthly is to be paid off by equal monthly...

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Question

A loan of $16,525 at 10.8% compounded monthly is to be paid off by equal monthly payments of $650. How long will it take to p

business finance

Answer 1

Answer #1

[ 0.108/12] Rate = rate per period = PMT = Payment per period = pv = initial amount NPER = number of a payment periods 0.90%

Answer 2

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