Question
1. Kimmie signed a loan agreement that required monthly payments of $294.25 at the end of each month for 3 years at 6.6% compounded monthly.
1. Kimmie signed a loan agreement that required monthly payments of $294.25 at the end of each month for 3 years at 6.6% compounded monthly.
a. How much was the original loan? (Round to the nearest cent)
b. How much interest did she pay in total? (Round to the nearest cent)
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Advanced Financial Risk Management Enterprise Wide Risk Management In Theory And Practice
Authors: Donald Van Deventer, Kenji Imai, Mark Mesler
3rd Edition
1547416157, 9781547416158
