Question
The repayment of the loan is $35,000.00. If the loan was for 24 months at 10% interest. How much was the loan originally borrowed? Five
The repayment of the loan is $35,000.00. If the loan was for 24 months at 10% interest.
How much was the loan originally borrowed?
Five years ago, a trust fund amounting to $500,000.00 was invested at 15% compounded semi-annually.
Find the amount in the fund now?
Step by Step Solution
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For the first question we can use the formula for calculating the total amount paid on a loan with s...
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
