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kobusy [5.1K]
2 years ago
12

Go back to the Standard Repayment plan in #1 above. Now pay an extra $100 per month (this gets put toward the principal),.

Business
1 answer:
Solnce55 [7]2 years ago
6 0

Answer:

3000* (1+ 0.06) (that little 1 at the corner there <)

= $3,180

3,180 - 3000 = $180 first year

180/12 =$15 per month

The formula is

Principal (money borrowed/3000$) times/*/x (1+ rate (0.06) ) to the power of 1

Please correct me if i got it wrong i’m studying this in class too.

Explanation:

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