1. Mary Rose borrowed money from a bank amounted 12,000 with an interest rate of 11.5%, the monthly installments are 313.07. how long will it take to repay the loan? Supposed, Mary Rose has borrowed money from a financial institution that will be paid for about 2 years with monthly installments of 6,000. The bank charge 6% interest annually. How much is the principal loan?
1. Mary Rose borrowed money from a bank amounted 12,000 with an interest rate of 11.5%, the monthly installments are 313.07. how long will it take to repay the loan? Supposed, Mary Rose has borrowed money from a financial institution that will be paid for about 2 years with monthly installments of 6,000. The bank charge 6% interest annually. How much is the principal loan?
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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1. Mary Rose borrowed money from a bank amounted 12,000 with an interest rate of 11.5%, the monthly installments are 313.07. how long will it take to repay the loan?
Supposed, Mary Rose has borrowed money from a financial institution that will be paid for about 2 years with monthly installments of 6,000. The bank charge 6% interest annually. How much is the principal loan?
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