A couple bought a motorboat for $11,000 and agreed to pay off the loan by making monthly payments of $559.If the dealer charges an interest rate of 8.9% compounded monthly,how many months will it take to pay off the debt?
Correct Answer:
Verified
Q184: The Krishnans amortize a loan of $150,000
Q185: A $10,000 loan is amortized by equal
Q186: Cyndi bought a multimedia home computer system
Q187: After graduating from college and gaining employment,you
Q188: You wish to be a millionaire when
Q190: A man bought a stereo system for
Q191: A person amortizes a loan of $180,000
Q192: An $800 loan is amortized by equal
Q193: A person purchases a home for $130,000,makes
Q194: Find the future value of an annuity
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents