Hewlett Plastics Inc. received a loan of $860,000 at 8.75% compounded quarterly to purchase machinery for its

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Hewlett Plastics Inc. received a loan of $860,000 at 8.75% compounded quarterly to purchase machinery for its factory. Calculate the time period of the loan if the interest accumulated was $355,801.96.

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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Question Posted: Aug 30, 2024 09:05 AM

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Hewlett Plastics Inc. received a loan of $860,000 at 8.75% compounded quarterly to purchase machinery for its

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