Question
A loan of $28,000 is made at 8% interest, compounded annually. After how many years will the amount due reach $81,000 or more? (Use
A loan of $28,000 is made at 8% interest, compounded annually. After how many years will the amount due reach $81,000 or more? (Use the calculator provided if necessary.) Write the smallest possible whole number answer.
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
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