A guy borrows $9700 and wants to repay it $750 every six months with the first payment

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A guy borrows $9700 and wants to repay it $750 every six months with the first payment in 6 months. If the loan terms are 6% APR with semiannual compounding, how many payments will he need to make to pay off the loan?

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Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Question Posted: Dec 29, 2017 07:35 AM

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A guy borrows $9700 and wants to repay it $750 every six months with the first payment

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For semiannual compounding APR 6 2 3 No of payment Amount at start of pe...View the full answer

Principles of Finance

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