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Home Q & A Board Science-Related Homework Help Mathematics
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viva902 viva902
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10 months ago
Jamshid borrowed $350 from his mother at the beginning of every month for 2½ years while he attended Seneca College.


a) If the interest rate on the accumulating debt was 6% compounded semiannually, what amount did he owe his mother at the end of the 2½ year period?
b) If he made the first monthly payment of $175 on the loan at the end of the first month following the 2½ year period, how long after the date he entered college will he have the loan repaid? 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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micapiromicapiro
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10 months ago
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viva902 Author
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10 months ago
Smart ... Thanks!
prime7105
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
jmendoza
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2 hours ago
Good timing, thanks!
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