Question
Bob has received a $50,000 loan from the HSBC bank and has agreed to pay them back $62,027. If Bob is charged a 3.65% interest
Bob has received a $50,000 loan from the HSBC bank and has agreed to pay them back $62,027. If Bob is charged a 3.65% interest rate per year, how many loan payments must Bob make to HSBC? Round your answer to the nearest number.
Select one:
a. 3
b. 9
c. 6
d. 5
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Financial And Managerial Accounting
Authors: Nonso E Okpala
1st Edition
1634873904, 9781634873901
