If Phil borrows $40,000 from a loan company at an interest rate of 6.5% per year compounded weekly, and plans to make a payment of $800 per quarter, how may years will it take him to pay off the loan? 26.3 2 26.0 3 25.1 4 23.3
If Phil borrows $40,000 from a loan company at an interest rate of 6.5% per year compounded weekly, and plans to make a payment of $800 per quarter, how may years will it take him to pay off the loan? 26.3 2 26.0 3 25.1 4 23.3
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 19PROB
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