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A debt is amortized by monthly payments of $250. Interest is 8% compounded monthly. If the outstanding balance is $3225.68 just after a particular payment
A debt is amortized by monthly payments of $250. Interest is 8% compounded monthly. If the outstanding balance is $3225.68 just after a particular payment (say, the xth payment), what was the balance just after the previous payment (i.e., the (x-1)th payment
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Finance Applications And Theory
Authors: Marcia Millon Cornett, John R. Nofsinger, Troy Adair
3rd International Edition
1259252221, 9781259252228
