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Vinil7 [7]
3 years ago
13

Tim and Sally are taking out a personal loan to pay for their wedding expenses. The loan is for $9,000 and comes with an interes

t rate of 9.5% compounded monthly. The couple wants to pay the loan off as quickly as possible, keeping the monthly payments below $250. The lender offers repayment plans in 12 month increments. How long of a loan should they request?
Business
1 answer:
dolphi86 [110]3 years ago
7 0

Answer: 48 months.

Explanation: I just found the answer on Quizlet.

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Chez Fred Bakery estimates the allowance for uncollectible accounts at 3% of the ending balance of accounts receivable. During 2
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