How much longer will it take monthly payments of $1000 to pay off a $100,000 loan if

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How much longer will it take monthly payments of $1000 to pay off a $100,000 loan if the monthly compounded rate of interest on the loan is 10.5% instead of 9.75%?

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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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How much longer will it take monthly payments of $1000 to pay off a $100,000 loan if the monthly compounded rate of interest on the loan is 10.5% instead of 9.75%?
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How much longer will it take monthly payments of $1000 to pay off a $100,000 loan if

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The original loan equals the present value of theloan payments With PV 100000 PMT 1000 and i 125...View the full answer

Business Mathematics In Canada

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