A company was charged interest of $17,894.86 on a loan of $100,000 that was compounding monthly for
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A company was charged interest of $17,894.86 on a loan of $100,000 that was compounding monthly for three years. If the interest rate remains the same, how long will it take for the loan to accumulate additional interest of at least $20,000?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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