Darren Associates borrowed $200,500 at 7.85% compounded semi-annually. It repaid this loan by making payments of $4000
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Darren Associates borrowed $200,500 at 7.85% compounded semi-annually. It repaid this loan by making payments of $4000 at the end of every month.
a. What was the total principal repaid in the 4th year?
b. What was the total interest paid in the 4th year?
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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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