Question
(Annuity number ofperiods) How long will it take to pay off a loan of $54,000 at an annual rate of 11 percent compounded monthly if
(Annuity number ofperiods)How long will it take to pay off a loan of $54,000 at an annual rate of 11 percent compounded monthly if you make monthly payments of $800? Use five decimal places for the monthly percentage rate in your calculations.
The number of years it takes to pay off the loan is years.(Round to one decimalplace.)
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International Financial Reporting Standards An Introduction
Authors: Belverd E. Needles, Marian Powers
3rd Edition
1133187943, 978-1133187943
