Question
How long will it take to pay off a loan of $48,000 at an annual rate of 12 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 12 percent compounded monthly if you make monthly payments of ?$800?? Use five decimal places for the monthly percentage rate in your calculations.
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur Keown, John Martin
12th edition
133423824, 978-0133423822
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