dan borrowed $1648.00 today and is to repay the loan in two equal payments.the first...

90.2K

Verified Solution

Question

Finance

dan borrowed $1648.00 today and is to repay the loan in two equal payments.the first payment in 5 months,and the second payment in 7 months.if intrest is per annualy on the loan ,what is tbe size of the equaly payments?use today as the focal date
the intrest rate is 3%per annualy

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students