A lease of $8,700 had to be repaid with payments of $375 at the beginning of every month. The interest rate charged was 9.50% compounded
A lease of $8,700 had to be repaid with payments of $375 at the beginning of every month. The interest rate charged was 9.50% compounded monthly.
a. What is the size of the final payment? round to the nearest cent.
Helen had a loan of $69,000 and made payments of $3,250 at the end of every three months to settle it. If he received the loan at 4.52% compounded quarterly, what was the balance on the loan at the end of two years?
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Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
