Question
Nasir borrows Rs.5,500 at an interest rate of 9% per year, compounded semiannually on each July 1 and January 1. He plans to make his
Nasir borrows Rs.5,500 at an interest rate of 9% per year, compounded semiannually on each July 1 and January 1. He plans to make his loan payment of Rs.650 at the end of each semiannual period. Assume that today is January 1, 2021 and Nasir will make first loan payment on July, 2021, then how long will it take to completely repay the loan?
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The New Look Of Affordable Housing
Authors: Alvin Hope Johnson
1st Edition
979-8854852562
