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A loan of $9,000 is made today at an interest rate of 12%, and the first payment of $6000 is made 4 years later.
A loan of $9,000 is made today at an interest rate of 12%, and the first payment of $6000 is made 4 years later. The amount that is still due on the loan after the first payment is close to: (Setup the problem from the perspective of the creditor with appropriate signs for the values) $20,162 $9,200 $14,490 $8,162
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Vector Mechanics for Engineers Statics and Dynamics
Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell
8th Edition
73212229, 978-0073212227
