Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 16 (Annuity number of periods) How long will it take to pay off a loan of $47,000 at an annual rate of 9 percent
Question 16
(Annuity number of periods) How long will it take to pay off a loan of $47,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $400 ? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is years. (Round to one decimal place.) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Public Private Partnership Handbook
Authors: Malcolm Morley
1st Edition
0749474262, 978-0749474263
