Question
How long will it take to pay off a loan of $48,000 at an annual rate of 9 percent compounded monthly if you make monthly
How long will it take to pay off a loan of $48,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $450? Use five decimal places for the monthly percentage rate in your calculations.
How many years will it take to pay off the loan? round to one decimal place
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
13th edition
1285198840, 978-1285198842
