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A building is priced at $100,000. If a downpayment of $40,000 is made, an a payment of $1,000 every month thereafter is required, how many
A building is priced at $100,000. If a downpayment of $40,000 is made, an a payment of $1,000 every month thereafter is required, how many months will it take to pay for the building? Interest is charged at a rate of 12% compounded monthly.
Answer:
ieff = Blank 1 show two decimal
N (no. of months to pay) = Blank 2
Note: Do not round in between solution. Final answer round to the nearest whole number
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