Repay in four equal installments at the end of four years


Suppose you borrowed $12,000 at a rate of 9.0% and must repay it in four equal installments at the end of each of the next four years. How large would your payments be?

$3,704.02

$3,889.23

$4,083.69

$4,287.87

$4,502.26

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Accounting Basics: Repay in four equal installments at the end of four years
Reference No:- TGS088880

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