You borrow $28746 at 12.25 % interest compounded monthly. If you are unable to make any payments for 9 years, how much do you owe at the end of 9 years? No rounding off to interest rate and round off your final answer to 2 decimal places.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You borrow $28746 at 12.25 % interest compounded monthly. If you are unable to make any payments for 9 years, how
much do you owe at the end of 9 years?
No rounding off to interest rate and round off your final answer to 2 decimal places.
Transcribed Image Text:You borrow $28746 at 12.25 % interest compounded monthly. If you are unable to make any payments for 9 years, how much do you owe at the end of 9 years? No rounding off to interest rate and round off your final answer to 2 decimal places.
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