Question
How long will it take to pay off a loan of $45,000 at an annual rate of 9 percent compounded monthly if you make monthly
How long will it take to pay off a loan of $45,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $500? Use five decimal places for the monthly percentage rate in your calculations.
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Financial Modeling
Authors: Simon Benninga, Tal Mofkadi
5th Edition
0262046423, 9780253337825
