4-12 How many months will it take to pay off a $525 debt, with monthly payments of...

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4-12 How many months will it take to pay off a $525 debt, with monthly payments of $15 at the end of each month, if the interest rate is 18%, compounded monthly? (Answer: 50 months)

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Engineering Economic Analysis

ISBN: 9780357419687

11th Edition

Authors: Donald Newnan, Ted Eschenbach, Jerome Lavelle

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Question Posted: Oct 26, 2024 07:01 AM

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4-12 How many months will it take to pay off a $525 debt, with monthly payments of $15 at the end of each month, if the interest rate is 18%, compounded monthly? (Answer: 50 months)
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4-12 How many months will it take to pay off a $525 debt, with monthly payments of...

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Engineering Economic Analysis

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