Question
Raymond borrowed $3,000.00 from Loans R Us Company. The line of credit agreement provided for repayment of the loan in equal monthly payments of $668.76
| Raymond borrowed $3,000.00 from Loans R Us Company. The line of credit agreement provided for repayment of the loan in equal monthly payments of $668.76 which includes interest of 9.00 % per annum calculated on the unpaid balance.
1. What are the total interest charges? 2. How many payments are required to pay off the loan 3. What is the final Payment |
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Contemporary Business Mathematics With Canadian Applications
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
12th Edition
0135285011, 978-0135285015
