How many loan payments must make before loan is paid in full
Today, you signed loan papers agreeing to borrow $4,954.85 at 9% compounded monthly. The loan payment is $143.84 a month. How many loan payments must you make before the loan is paid in full?
Answer
a. 29.89
b. 36.00
c. 38.88
d. 40.00
e. 41.03
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