Question
In what period of time could you pay back a loan of $3500 by making quarterly payments of $320 if interest is 9.8% compounded semi-annually?
In what period of time could you pay back a loan of $3500 by making quarterly payments of $320 if interest is 9.8% compounded semi-annually? State your answer in years and months (from 0 to 11 months).
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
