A college atudent borrows $10,000 today at 10% interest compounded annually. For years later, the student makes the first repayment of $3000. Approximately how much money will the student still owe on the loan after the first payment?
A college atudent borrows $10,000 today at 10% interest compounded annually. For years later, the student makes the first repayment of $3000. Approximately how much money will the student still owe on the loan after the first 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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A college atudent borrows $10,000 today at 10% interest compounded annually. For years later, the student makes the first repayment of $3000. Approximately how much money will the student still owe on the loan after the first payment?
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