Question
For how long will Zack have to make payments of $166.00 at the end of every six months to repay a loan of $3452.00
For how long will Zack have to make payments of $166.00 at the end of every six months to repay a loan of $3452.00 if interest is 5% compounded semi-annually? State your answer in years and months (from 0 to 11 months). Zack will have to make payments for year(s) and month(s).
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
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