Question
Suppose I secure a simple interest bank note for $4500. The term of the loan is 78 months at 5% APR. When the note matures
Suppose I secure a simple interest bank note for $4500. The term of the loan is 78 months at 5% APR. When the note matures (the term of the loan has expired), how much will I owe the bank? Please show your work.
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Finance For Non Financial Managers
Authors: Pierre G. Bergeron
5th Edition
0176104070, 9780176104078
