Josie borrowed $8000 compounded monthly to help finance her education. She contracted to repay the loan in

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Josie borrowed $8000 compounded monthly to help finance her education. She contracted to repay the loan in monthly payments of $300 each. If the payments are due at the end of each month and interest is 4% compounded monthly, how long will Josie have to make monthly payments?
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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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