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Kristina took out a bank loan for $60 000 that must be repaid with regular monthly payments of $1100. The bank charges her an interest
Kristina took out a bank loan for $60 000 that must be repaid with regular monthly payments of $1100. The bank charges her an interest rate of 3.0%, compounded monthly. a) How many payments will Kristina have to make to pay off the bank loan? A. 59 B. 58 C. 55 D. 54 b) How much interest will Kristina pay?
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
