Question
Ben borrowed $1,200 that was compounded 6% annually. He was presented with two payment method. Payment 1: Ben can make payments of $90 each year.
Ben borrowed $1,200 that was compounded 6% annually. He was presented with two payment method.
Payment 1: Ben can make payments of $90 each year.
Payment 2: Ben can make payments of $72 each year.
How many years will Ben make payments on each payment methods?
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Financial and Managerial Accounting
Authors: John J Wild, Ken W. Shaw
8th edition
1260247856, 978-1260247855
