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6. A loan of $2500 taken out on April 2 requires equal payments on May 25, July 20, September 10, and a final payment
6. A loan of $2500 taken out on April 2 requires equal payments on May 25, July 20, September 10, and a final payment of $500 on October 15. If the focal date is October 15, what is the size of the equal payments at 9% simple interest?
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First lets find the total interest accrued over the period from April 2 to October 15 Interest Princ...
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
