A contract valued at $11 500 requires payment of $1450 at the end of every six months.

Question:

A contract valued at $11 500 requires payment of $1450 at the end of every six months. If interest is 10.5% compounded semi-annually, what is the term of the contract?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

Question Posted: