144. What is the principal remaining after 20 monthly payments have been made on a $20,000 five-year

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144. What is the principal remaining after 20 monthly payments have been made on a $20,000 five-year loan?

The annual interest rate is 12% nominal compounded monthly. (4.15)

(a) $10,224

(b) $13,333

(c) $14,579

(d) $16,073

(e) $17,094

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Engineering Economy

ISBN: 9781292265001

17th Global Edition

Authors: William G. Sullivan ,Elin M. Wicks ,C. Patrick Koelling

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Question Posted: Oct 25, 2024 10:11 AM

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144. What is the principal remaining after 20 monthly payments have been made on a $20,000 five-year

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Engineering Economy

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