Malia has a $280,000 business loan at an interest rate of 3.45% compounded semi-annually. The lender requires
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Malia has a $280,000 business loan at an interest rate of 3.45% compounded semi-annually. The lender requires that she makes equal month-end payments of $1500. If her first payment is to be made six months from now, how long will it take her to settle the loan?
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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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