A loan is paid off in 5 years with a monthly payment of $125 and an interest rate of 4.1% compounded monthly. How much is the initial sum? a. $5790.27 b. $4363.68 $4782.51 $5214.62 $6770.76 с. d. е.
A loan is paid off in 5 years with a monthly payment of $125 and an interest rate of 4.1% compounded monthly. How much is the initial sum? a. $5790.27 b. $4363.68 $4782.51 $5214.62 $6770.76 с. d. е.
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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Transcribed Image Text:A loan is paid off in 5 years with a monthly payment of $125 and an interest rate of 4.1%
compounded monthly. How much is the initial sum?
$5790.27
$4363.68
$4782.51
$5214.62
$6770.76
а.
b.
с.
d.
е.
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