Question
(Annuity number ofperiods) How long will it take to pay off a loan of 54,000 at an annual rate of 12 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 12 percent compounded monthly if you make monthly payments of 700? Use five decimal places for the monthly percentage rate in your calculations.
The number of years it takes to pay off the loan is?
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Analysis for Financial Management
Authors: Robert Higgins
11th edition
77861787, 978-0077861780
