a. Howlongwillittakemonthlypaymentsof$400torepaya$50,000loanifthe interest rate on the loan is 8% compounded semiannually? b. Howmuchwillthetimetorepaytheloanbereducedifthepaymentsare$40per month larger?

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a. Howlongwillittakemonthlypaymentsof$400torepaya$50,000loanifthe interest rate on the loan is 8% compounded semiannually?
b. Howmuchwillthetimetorepaytheloanbereducedifthepaymentsare$40per month larger?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Sep 21, 2024 08:02 AM

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a. Howlongwillittakemonthlypaymentsof$400torepaya$50,000loanifthe interest rate on the loan is 8% compounded semiannually? b. Howmuchwillthetimetorepaytheloanbereducedifthepaymentsare$40per month larger?

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a The loan payments form an ordinary generalannuity having The numb...View the full answer

Business Mathematics In Canada

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