Question
A freshman college student borrows $10,000 today at 12% interest compounded annually to buy a used car. Four years later the student receives a graduation
A freshman college student borrows $10,000 today at 12% interest compounded annually to buy a used car. Four years later the student receives a graduation gift of $3,000 and pays this gift toward the loan balance. Approximately how much money will the student still owe after the $3,000 payment?
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Cases In Healthcare Finance
Authors: Louis C. Gapenski
3rd Edition
1567932444, 9781567932447
