Question
Using the simple interest method, find the monthly payments on a $3,500 installment loan if the funds are borrowed for 18 months at an annual
Using the simple interest method, find the monthly payments on a $3,500 installment loan if the funds are borrowed for 18 months at an annual interest rate of 16%. Use financial calculator to answer the question.Round the answer to the nearest cent.
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
