Suppose you signed into an 8-year loan which is compounded annually at 7%. How much will you pay if you borrowed  $20,000.00.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Suppose you signed into an 8-year loan which is compounded annually at 7%. How
much will you pay if you borrowed  $20,000.00.

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