Question
YXZ International acquired a loan of $28,000 at 7.9% compounded semi-annually. Except for a smaller final payment, XYZ International paid $1,700 at the end of
YXZ International acquired a loan of $28,000 at 7.9% compounded semi-annually. Except for a smaller final payment, XYZ International paid $1,700 at the end of every month. Blank #1: What is the total number of payments needed to pay off the loan? Blank #2: What is the amount of the final smaller payment? Blank #3: What is the total amount of interest paid over the life of the loan?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M. Datar, George Foster
12th edition
978-0131495388
