Sabrina borrowed $30,000 at an interest rate of 7% compounded quarterly. Monthly payments of $356.83 will commence

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Sabrina borrowed $30,000 at an interest rate of 7% compounded quarterly. Monthly payments of $356.83 will commence after a period of deferral and will pay off the loan over the subsequent 12 1/2 years. What is the length of the period of deferral?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:45 AM

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Sabrina borrowed $30,000 at an interest rate of 7% compounded quarterly. Monthly payments of $356.83 will commence

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Given PMT 35683 i 7 175 c 2 03 4 n 12125 150 PV 30000 i 1i 1 ...View the full answer

Business Mathematics In Canada

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