Question
Berkley Trucking recently purchased a new truck costing $147,800. The firm financed this purchase at 6.5 percent interest (monthly compounded) with monthly payments of $2413.
Berkley Trucking recently purchased a new truck costing $147,800. The firm financed this purchase at 6.5 percent interest (monthly compounded) with monthly payments of $2413. How many months will it take the firm to pay off this debt (i.e., until the future value is 0)? Round your answer to the nearest month.
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Practical Financial Management
Authors: William R. Lasher
8th edition
1305637542, 978-1305887237, 1305887239, 978-1305637542
