SOLUTION: A loan of $7534 is repaid at the end of 10 months. What size repayment check ( principal and interest) was written, if 4.6% annual rate of interest was charged?
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Question 495897: A loan of $7534 is repaid at the end of 10 months. What size repayment check ( principal and interest) was written, if 4.6% annual rate of interest was charged?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=7534(1.046)^5/6
A=7534*1.038189
A=$7821.72
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