Question
Marcie has an outstanding debt of $11,000. She is making end-of-the-month payments of $350. If the annual interest rate is 12.9%, how many months will
Marcie has an outstanding debt of $11,000. She is making end-of-the-month payments of $350. If the annual interest rate is 12.9%, how many months will she be making payments in order to pay off this debt? How large does her last payment need to be since she does not need to pay a round number of payments?
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Business Analysis And Valuation Using Financial Statements Text And Cases
Authors: Krishna G. Palepu, Paul M. Healy, Victor L Bernard
3rd Edition
0324118945, 9780324118940
