If you borrow $4,800 and repay the loan by paying $200 per month to reduce the loan

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If you borrow $4,800 and repay the loan by paying $200 per month to reduce the loan and 1% of the unpaid balance each month for the use of the money, what is the total cost of the loan over 24 months?

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Finite Mathematics For Business Economics Life Sciences And Social Sciences

ISBN: 9780134862620

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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Question Posted: Jan 02, 2024 02:37 AM

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If you borrow $4,800 and repay the loan by paying $200 per month to reduce the loan

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calculate the total cost of the loan over 24 months Interest payments Mo...View the full answer

Finite Mathematics For Business Economics Life Sciences And Social Sciences

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