Question
A $45,000 loan bearing interest at 5.13% compounded quarterly was repaid, after a long period of deferrals, by end of month payments of $873.82 over
A $45,000 loan bearing interest at 5.13% compounded quarterly was repaid, after a long period of deferrals, by end of month payments of $873.82 over 12 years. How long is the period of federal? Express your answers in years and months. Include a timeline diagram too
( do not round to intermediate values)
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
13th edition
1111971633, 978-1111971632
