A contract valued at $11 500 requires payment of $1450 at the end of every six months.

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A contract valued at $11 500 requires payment of $1450 at the end of every six months. If interest is 10.5% compounded semi-annually, what is the term of the contract?

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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 03:57 AM

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A contract valued at $11 500 requires payment of $1450 at the end of every six months.

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PV n 1 50000 PMT 145000 i 525 n In0583621 In1052...View the full answer

Contemporary Business Mathematics with Canadian Applications

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