Question
How long will it take to pay off a loan of $ 51,000 at an annual rate of 9 percent compounded monthly if you make
How long will it take to pay off a loan of $51,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $750? Use five decimal places for the monthly percentage rate in your calculations.
The number of years it takes to pay off the loan is ____ years. (Round to one decimalplace.)
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Financial Management Concepts and Applications
Authors: Stephen Foerster
1st edition
013293664X, 978-0132936644
