In what period of time could you pay back a loan of $3900 by making...

60.1K

Verified Solution

Question

Finance

image

In what period of time could you pay back a loan of $3900 by making quarterly payments of $270 if interest is 8 8% compounded monthly State your answer in years and months (from 0 to 11 months) It would take year(s) and month(s) to pay back the loan 1.1913 Enter your answer in each of the answer boxes O Type here to search

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