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28 Sep 2019
A debt of $10,000 must be paid in a series of equal monthly payments for 5 years. The nominal annual interest rate is 12%, compounded monthly.
The loan balance immediately after the 12th payment is _________.
A)$8,000
B)$8,430
C)$7,298
D)None of these
A debt of $10,000 must be paid in a series of equal monthly payments for 5 years. The nominal annual interest rate is 12%, compounded monthly.
The loan balance immediately after the 12th payment is _________.
A)$8,000
B)$8,430
C)$7,298
D)None of these
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answer
0
watching
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Kritika KrishnakumarLv10
28 Sep 2019