Question
A new book store takes out a $2,471.97 loan to purchase bookshelves. The loan is amortized over 4 years at 5.92% annual interest rate. Calculate
A new book store takes out a $2,471.97 loan to purchase bookshelves. The loan is amortized over 4 years at 5.92% annual interest rate.
Calculate the annual payments on the loan.
Round your answer to 2 decimal places. (For example 2.437 = 2.44)
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
13th Edition
978-0134083308, 013408330X
