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gewusel gewusel
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6 years ago
Zam Zam Inc. borrowed $142 000.00 at 4.4% compounded semi-annually. The loan is repaid by payments of $9700.00 due at the end of every six months. How many payments are needed and what will be the outstanding balance after 8 payments?
A) 18 and $85 158
B) 18 and $81 520
C) 18 and $60 480
D) 18 and $56 842
E) 15 and $64 800
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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