A $2400 payment was made on a $10,000 loan 30 months after the date of the loan.
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A $2400 payment was made on a $10,000 loan 30 months after the date of the loan. The interest rate was 6% compounded monthly for the entire load period. What amount was owed on the loan after three years?
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Amount owed just before first payment 10000 1005 30 116140...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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