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ikrabbe ikrabbe
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Posts: 324
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6 years ago
For how long will Jessica have to make payments of $1200.00 at the end of every three months to repay a loan of $10 000.00 if interest is 12% compounded semi-annually?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
= 10 000, PMT = 1200, i = 0.12 ÷ 2 = 0.06, c =   = 
p =   -1 = 0.029563014
n =   = 9.708 ≈ 10 periods.
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