A student loan that had grown to $22,600 had to be repaid with payments of $350 at
Question:
A student loan that had grown to $22,600 had to be repaid with payments of $350 at the beginning of every month. The interest rate charged was 5.75% compounded monthly.
a. How many payments are required to settle the loan?
b. What is the final payment?
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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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