A debt of $25 000 is repaid by payments of $3500 made at the end of every
Question:
(a) How many payments are needed to repay the debt?
(b) What is the size of the final payment?
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a PV n 25 00000 PMT 350000 i 55 7142857 1 1055 n 0055 1055 n 0607143 1n 1055 1n 0607142 0053541n 0...View the full answer
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Related Book For 
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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