24. In what period of time could you pay back a loan of $4000 by making quarterly payments of $320 if interest is 9.7% compounded
24. In what period of time could you pay back a loan of $4000 by making quarterly payments of $320 if interest is 9.7% compounded monthly? State your answer in years and months (from 0 to 11 months).
It would take ____ year(s) and _____ month(s) to pay back the loan.
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Authors: Paul Asquith, Lawrence A. Weiss
2nd Edition
1119537835, 978-1119537830
