If you borrow $24,000 now at an interest rate of 8% per year and promise to repay

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If you borrow $24,000 now at an interest rate of 8% per year and promise to repay the loan with payments of $3000 per year starting one year from now, the number of payments that you will have to make is closest to:

a. 8

b. 11

c. 14

d. 17

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Basics Of Engineering Economy

ISBN: 9780073376356

2nd Edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Oct 26, 2024 07:00 AM

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If you borrow $24,000 now at an interest rate of 8% per year and promise to repay

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Basics Of Engineering Economy

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