An association that Korean Americans are able to use to pool their money together and provide grants to subsidize the startup co
1 answer:
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Answer:
It will take 50 months to complete the payment on his entire balance
Explanation:
We have to solve for n in an annuity:
C $20.00
time n
rate (0.1524 / 12 months per year) 0.00127
PV $969.1600
Now, we use logarithmics properties to get the answer:
[tex]-n= \frac{log0.93845834}{log(1+0.00127)
n = 50.044991