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tifftran tifftran
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10 months ago
Nancy borrowed $8000 from her grandfather to buy a car when she started college. The interest rate being charged is only 4.5% compounded monthly. Nancy is to make the first $200 monthly payment on the loan three years after the date of the loan. How long after the date of the initial loan will she make the final payment? Round up the number of payments.
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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thomas1993thomas1993
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Anonymous
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#2
10 months ago
Help! The answer is missing an explanation...
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Educator
10 months ago
Just added the solution for you!
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