Question
You borrow $1,600 at 6% (SA) and owe $2,026.83. What is the term of the loan? Round the answer to n to a whole (i.e.
You borrow $1,600 at 6% (SA) and owe $2,026.83. What is the term of the loan? Round the answer to n to a whole (i.e. n = 13.999 = 14, n= 4.00005 = 4) - do this before you convert to years and months. Answer in Years and Months (if years or months are zero, place 0).
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
