Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How many months will it take you to pay off a loan of $ 1 8 , 0 0 0 at 6 % APR compounded

How many months will it take you to pay off a loan of $18,000 at 6% APR compounded monthly if you make monthly payments of $600?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Public Finance

Authors: Toshihiro Ihori

1st Edition

9811023883, 978-9811023880

More Books

Students also viewed these Finance questions

Question

=+c) Why should you have anticipated the answer to part b?

Answered: 1 week ago