Leslie borrowed $25,000 at 7.85% compounded quarterly. He paid $1170 at the end of every three months
Question:
Leslie borrowed $25,000 at 7.85% compounded quarterly. He paid $1170 at the end of every three months to settle the loan.
a. How many payments were required to settle the loan?
b. What was the size of 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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