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Amber just borrowed $6,000.00. She plans to repay this loan by making a special payment of $1,900.00 in 3 years and by making regular annual
Amber just borrowed $6,000.00. She plans to repay this loan by making a special payment of $1,900.00 in 3 years and by making regular annual payments of $625.42 per year until the loan is paid off. If the interest rate on the loan is 7.40 percent per year and she makes her first regular annual payment of $625.42 in 1 year, then how many regular annual payments of $625.42 must Amber make?
Amber just borrowed $6,000.00. She plans to repay this loan by making a special payment of $1,900.00 in 3 years and by making regular annual payments of $625.42 per year until the loan is paid off. If the interest rate on the loan is 7.40 percent per year and she makes her first regular annual payment of $625.42 in 1 year, then how many regular annual payments of $625.42 must Amber make?
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