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

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

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

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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