Question
Q1. You need a loan to purchase new equipment. The loan will be paid off over 12 years with payments made at the end of
Q1. You need a loan to purchase new equipment. The loan will be paid off over 12 years with payments made at the end of every quarter. If the stated annual rate is 07.00%and quarterly payments are $715, what is the loan amount?
Q2. You need a loan to purchase new equipment. The loan will be paid off over 10 years with payments made at the end of every quarter. If the stated annual rate is 18.00%and quarterly payments are $724, what is the loan amount?
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino
6th Canadian edition
1259453146, 978-1259453144
