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please answer asap ill give u a like Sheridan Service has a line of credit loan with the bank. The initial loan balance was $7000.00.
please answer asap ill give u a like
Sheridan Service has a line of credit loan with the bank. The initial loan balance was $7000.00. Payments of $2500.00 and $3000.00 were made after three months and seven months respectively. At the end of one year, Sheridan Service borrowed an additional \$4500.00. Slx months later, the line of credit loan was converted into a collaterat mortgage loan. What was the amount of the mortgage loan if the line of credit interest was 7% compounded monthly? The amount of the loan is 4 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Step by Step Solution
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