Hank was paying $550 at the end of every month to settle a loan of $18,750 at
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Hank was paying $550 at the end of every month to settle a loan of $18,750 at 5.45% compounded quarterly.
a. What was the total principal repaid in the 2nd y year?
b. What was the total interest paid in the 2nd 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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