How many months will it take to pay off $6000 if payments of $727 are made at the end of every quarter at 6.2% p.a. compounded quarterly? Select one: a.3 years b.9 months c.27 months d.8.899071 months

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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How many months will it take to pay off $6000 if payments of $727 are made at the end of every quarter at 6.2% p.a. compounded quarterly?

Select one:
a.3 years
b.9 months
c.27 months
d.8.899071 months
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