Your student loan is looming so you'd like to come up with a plan for repayment. The remaining balance on your loan is $65,584.95 and the student loan service centre charges 2,33% interest compounded quarterly. If payments of $250 are made at the beginning of every two weeks (26 times per year), how many months will it take to pay off the loan in its entirety? Answer
Your student loan is looming so you'd like to come up with a plan for repayment. The remaining balance on your loan is $65,584.95 and the student loan service centre charges 2,33% interest compounded quarterly. If payments of $250 are made at the beginning of every two weeks (26 times per year), how many months will it take to pay off the loan in its entirety? Answer
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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am. 125.
![Your student loan is looming so you'd like to come up with a plan for repayment. The remaining balance on your loan is $65,584.95 and the student loan service centre
charges 2,33% interest compounded quarterly. If payments of $250 are made at the beginning of every two weeks (26 times per year), how many months will it take to pay
off the loan in its entirety? Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fca066143-a8df-4fb2-a070-4d1361d18f82%2F076c8bea-0d3e-4be4-ba32-ff9a7502d54b%2Fjt8twsn_processed.png&w=3840&q=75)
Transcribed Image Text:Your student loan is looming so you'd like to come up with a plan for repayment. The remaining balance on your loan is $65,584.95 and the student loan service centre
charges 2,33% interest compounded quarterly. If payments of $250 are made at the beginning of every two weeks (26 times per year), how many months will it take to pay
off the loan in its entirety? Answer
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