Question
A loan of $10 000 is paid off with payment of $170.49 made at the end of each month for six years. The interest rate
A loan of $10 000 is paid off with payment of $170.49 made at the end of each month for six years. The interest rate is 7% compounded monthly. Find the total interest paid over the six-year life of the loan.
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Get StartedRecommended Textbook for
Introduction To Derivatives And Risk Management
Authors: Don M. Chance, Robert Brooks
10th Edition
130510496X, 978-1305104969
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