A loan of $172,000 at 3.12% compounded quarterly was to be settled with month-end payments of $7,750. What will be the balance on the loan at the end of year 1? need answer immediately its test plz answer soon as possible
A loan of $172,000 at 3.12% compounded quarterly was to be settled with month-end payments of $7,750. What will be the balance on the loan at the end of year 1? need answer immediately its test plz answer soon as possible
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A loan of $172,000 at 3.12% compounded
quarterly was to be settled with month-end
payments of $7,750. What will be the balance
on the loan at the end of year 1?
need answer immediately its test plz answer
soon as possible
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