Question
To borrow 1,800, you are offered an add-on interest loan at 6 percent. Three loan payments are to be made, one at four months, another
To borrow 1,800, you are offered an add-on interest loan at 6 percent. Three loan payments are to be made, one at four months, another at eight months, and the last one at the end of the year. Compute the three equal payments. The answer is not $624.16
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Basic Finance An Introduction to Financial Institutions, Investments and Management
Authors: Herbert B. Mayo
11th Edition
1285425790, 1285425795, 9781305464988 , 978-1285425795
