You agreed to make equal payments of 28,191 at the beginning of each months to discharge a debt due in 10 years. If money is worth 2.2 % compounded monthly, how much did you loan ? Round off answers to 2 decimal places.
You agreed to make equal payments of 28,191 at the beginning of each months to discharge a debt due in 10 years. If money is worth 2.2 % compounded monthly, how much did you loan ? Round off answers to 2 decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You agreed to make equal payments of 28,191 at the beginning of each months to discharge a debt due in 10 years. If money is worth 2.2 % compounded monthly, how much did you loan ? Round off answers to 2 decimal places.
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