Jackie has been making equal annual payments of $2500 to pay off a college loan. He has 4 paymentsremaining and he wishes to pay off the account as one lumped payment. If the interest rate is 5%, howmuch should Jackie pay today?A $8,865B) $10,866C) $6,866D $9,865

Answered: much should Jackie pay today?

Engineering

Mechanical Engineering

much should Jackie pay today?

Elements Of Electromagnetics

7th Edition

ISBN:9780190698614

Author:Sadiku, Matthew N. O.

Publisher:Sadiku, Matthew N. O.

ChapterMA: Math Assessment

Section: Chapter Questions

Problem 1.1MA

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Concept explainers

Project Management Techniques

The guideways or the roadways that are undertaken to perform a project efficiently and all the tools required to accomplish the task are the general outlines for project management techniques.

Question

Jackie has been making equal annual payments of $2500 to pay off a college loan. He has 4 payments
remaining and he wishes to pay off the account as one lumped payment. If the interest rate is 5%, how
much should Jackie pay today?
A $8,865
B) $10,866
C) $6,866
D $9,865

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