How long will it take to pay off a loan of $53 comma 00053,000 at an annual rate of 66% compounded monthly if you make monthly payments of $800800 (round up)? Question content area bottom Part 1 To pay off the loan, it will take approximately enter your response here years. (Round up to the nearest integer.)
How long will it take to pay off a loan of $53 comma 00053,000 at an annual rate of 66% compounded monthly if you make monthly payments of $800800 (round up)? Question content area bottom Part 1 To pay off the loan, it will take approximately enter your response here years. (Round up to the nearest integer.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
How long will it take to pay off a loan of
$53 comma 00053,000
at an annual rate of
66%
compounded monthly if you make monthly payments of
$800800
(round up)?Question content area bottom
Part 1
To pay off the loan, it will take approximately
enter your response here
years. (Round up to the nearest integer.)AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education