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you have decided to buy a. new stereo for $2500 and agreed to pay 30 in equal quarterly payments at 5% compounded quarterly on the unpaid balance. how much are your payments? round to nearest dollar. how much of the first payment will go towards the principle?

you have decided to buy a. new stereo for $2500 and agreed to pay 30 in equal quarterly payments at 5% compounded quarterly on the unpaid balance. how much are your payments? round to nearest dollar. how much of the first payment will go towards the principle?

Advanced Engineering Mathematics
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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you have decided to buy a. new stereo for $2500 and agreed to pay 30 in equal quarterly payments at 5% compounded quarterly on the unpaid balance. how much are your payments? round to nearest dollar. how much of the first payment will go towards the principle?
Transcribed Image Text:you have decided to buy a. new stereo for $2500 and agreed to pay 30 in equal quarterly payments at 5% compounded quarterly on the unpaid balance. how much are your payments? round to nearest dollar. how much of the first payment will go towards the principle?
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