Question
You owe $30,000 and want to pay it off at $500 per month. If the interest rate on the loan is 6% per year, compounded
You owe $30,000 and want to pay it off at $500 per month. If the interest rate on the loan is 6% per year, compounded monthly, how long will it take you to pay off the loan?
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Get StartedRecommended Textbook for
Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
1259252221, 007786168X, 9781259252228, 978-0077861681
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