)Alex Karev has taken out a $180,000loan with an annual rate of 9 percent compounded monthly to pay off hospital bills from his wife Izzy's illness. If the most Alex can afford to pay is $3,500 per month, how long will it take to pay off the loan? How long will it take for him to pay off the loan if he can pay $4,000 per month? Use five decimal places for the monthly percentage rate in your calculations. Question content area bottom Part 1 a. If Alex can payn $3,500 per month, the number of years it takes for him to pay off the loan is enter your response here years
)Alex Karev has taken out a $180,000loan with an annual rate of 9 percent compounded monthly to pay off hospital bills from his wife Izzy's illness. If the most Alex can afford to pay is $3,500 per month, how long will it take to pay off the loan? How long will it take for him to pay off the loan if he can pay $4,000 per month? Use five decimal places for the monthly percentage rate in your calculations. Question content area bottom Part 1 a. If Alex can payn $3,500 per month, the number of years it takes for him to pay off the loan is enter your response here years
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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hw3 12)Alex Karev has taken out a $180,000loan with an annual rate of 9 percent compounded monthly to pay off hospital bills from his wife Izzy's illness. If the most Alex can afford to pay is $3,500 per month, how long will it take to pay off the loan? How long will it take for him to pay off the loan if he can pay $4,000 per month? Use five decimal places for the monthly percentage rate in your calculations.
Question content area bottom
Part 1
a. If Alex can payn $3,500 per month, the number of years it takes for him to pay off the loan is enter your response here years
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