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drew911811 drew911811
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A year ago
Weston Holdings Ltd. loaned $3.5 million to a subsidiary to build a plant in Winnipeg. No payments are required for two years, to allow the operations of the plant to become well established. The first monthly payment of $40,000 is due two years after the date the loan was received. If the interest rate charged on the intercompany loan is 9% compounded monthly, how long (measured from the date of the first payment) will it take the subsidiary to pay off the loan? Round up the number of payments.
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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PmochPmoch
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This calls for a celebration Person Raising Both Hands in Celebration
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