A car loan of $12 000 is to be repaid with end-of-month payments of $292.96. If interest

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A car loan of $12 000 is to be repaid with end-of-month payments of $292.96. If interest is 8% compounded monthly, how long is the term of the loan?

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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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Question Posted: Feb 26, 2016 03:56 AM

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A car loan of $12 000 is to be repaid with end-of-month payments of $292.96. If interest

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Contemporary Business Mathematics with Canadian Applications

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