The father has just donated $25,000 to a church. His son would like to donate an equivalent amount, but would like to pay by monthly payments over a five year period. If the interest rate is 8.2%, determine the size of the monthly payment?
The father has just donated $25,000 to a church. His son would like to donate an equivalent amount, but would like to pay by monthly payments over a five year period. If the interest rate is 8.2%, determine the size of the monthly payment?
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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