Question
You borrowed $3,500 at 5% compounded annually. Your payments are $350 at the end of each year. How many years will you make payments on
You borrowed $3,500 at 5% compounded annually. Your payments are $350 at the end of each year. How many years will you make payments on the loan?
Group of answer choices
8.13 years
10.87 years
8.31 years
14.21 years
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Fundamentals Of Corporate Finance
Authors: David W Blackwell, Robert Parrino, David S Kidwell
1st Edition
0471270563, 9780471270560
