Rachel takes out a seven-year,8 percent loan with a bank requiring annual end-of-year payments of $960.43.Calculate the original principal amount.

Name: Rachel takes out a seven-year,8 percent loan with a bank requiring annual end-of-year payments of $960.43.Calculate the original principal amount.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Quizplus · Accepted Answer

The Answer of Rachel takes out a seven-year,8 percent loan with a bank requiring annual end-of-year payments of $960.43.Calculate the original principal amount.

Rachel Takes Out a Seven-Year,8 Percent Loan with a Bank