Question
Sarah borrowed $7882.00 compounded monthly to help finance her education. She contracted to repay the loan in monthly payments of $311.00 each. If the payments
Sarah borrowed $7882.00 compounded monthly to help finance her education. She contracted to repay the loan in monthly payments of $311.00 each. If the payments are due at the end of each month and interest is 8% compounded monthly, how long will Sarah have to make monthly payments? State your answer in years and months (from 0 to 11 months).
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Dividend Growth Investing Machine
Authors: Andrew P.C.
1st Edition
1521728461, 978-1521728468
