Trent borrowed $18,000, which he will repay with quarterly payments of $1000, and a final, smaller payment.

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Trent borrowed $18,000, which he will repay with quarterly payments of $1000, and a final, smaller payment. The interest rate on the loan is 6% compounded monthly. How much interest will Trent pay altogether during the life of the loan?

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Fundamentals Of Business Mathematics In Canada

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Authors: F. Ernest Jerome, Jackie Shemko

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Trent borrowed $18,000, which he will repay with quarterly payments of $1000, and a final, smaller payment.

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Given Calculate the total number of payments using f...View the full answer

Fundamentals Of Business Mathematics In Canada

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