SOLUTION: For how many years will Prasad make payments on the $28 OOO he borrowed to start his machine shop if he makes payments of $3400 at the end of every three months and interest is 8.0

Question 1207418: For how many years will Prasad make payments on the $28 OOO he borrowed to start his machine shop if he makes payments of $3400 at the end of every three months and interest is 8.08% compounded semi-annually?

Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.
For how many years will Prasad make payments on the $28 OOO he borrowed to start his machine shop
if he makes payments of $3400 at the end of every three months and interest is 8.08% compounded semi-annually?
~~~~~~~~~~~~~~~~~~~

D U P L I C A T E

Just was solved/answered today at this forum under this link

https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1207428.html

RELATED QUESTIONS
For how many years will Prasad make payments on the $28,000 he borrowed to start his... (answered by ikleyn)

~~Dale buys a big screen TV at a furniture store that offers zero down and no...~~ (answered by solver91311)
Alonzo borrowed $8000at a rate of 15% , compounded quarterly. Assuming he makes no... (answered by tommyt3rd)
Bill borrowed $8000 at a rate of 19.5% , compounded quarterly. Assuming he makes no... (answered by Fombitz)
Keith borrowed $8000 at a rate of 7.5%, compounded semiannually. Assuming he makes no... (answered by addingup)
Boris borrowed $ 8000 at a rate of 18 % , compounded... (answered by fractalier)
John wants to start saving for an apartment. On his 20th birthday, he starts depositing... (answered by Theo)
Ron borrowed $1800 to finance a computer at 15.6%/a compounded monthly for 1 1/2 years.... (answered by math_tutor2020,mananth)
Carey bought a $2,100 computer system on the installment plan. He made a $400 down... (answered by richwmiller)