SOLUTION: if i had an 8400 loan with a 29 percent interest rate and 200 dollar monthly payments how long would it take to pay off

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Question 591715: if i had an 8400 loan with a 29 percent interest rate and 200 dollar monthly payments how long would it take to pay off
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


You would never pay it off. The first month's interest is greater than the $200 payment, so the principal would increase each month.

John

My calculator said it, I believe it, that settles it
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