Your company has received a $50,000 loan from an industrial finance company. The annual payments are...
Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9 percent interest per year, how many loan payments must the company make? Round to the nearest number of periods.
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Homework Answers
how many loan payments must the company make, using excel function=NPER(rate,pmt,pv,fv)
=NPER(9%,-6202.70,50000,0)
=15.00 YEARS
the above is answer..
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