Answered: The Johnson Family borrowed $3,000 for…

The Johnson Family borrowed $3,000 for 18 months at 4% interest. What is the total payback on the Single Payment loan(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 18P

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The Johnson Family borrowed $3,000 for 18 months at 4% interest. What is the total payback on the Single Payment loan(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}?

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