Your bank offers you a personal loan of $5000 at an interest rate of 6% compounded monthly.

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Your bank offers you a personal loan of $5000 at an interest rate of 6% compounded monthly. If the interest charged on the loan was $2160.22, calculate the term.

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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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Your bank offers you a personal loan of $5000 at an interest rate of 6% compounded monthly.

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Mathematics Of Business And Finance

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