9 Robert borrowed $28,372.63 from the bank, which needs to be paid with the amount of $404.21 at the beginning of every period compounded monthly, at an interest rate of 5.94%. What is the duration of...

9<br>Robert borrowed $28,372.63 from the bank, which needs to be paid with the amount of $404.21 at the beginning of every period<br>compounded monthly, at an interest rate of 5.94%. What is the duration of this annuity?<br>A 5.07 years<br>B 4.98 years<br>7.16 years<br>6.22 years<br>

Extracted text: 9 Robert borrowed $28,372.63 from the bank, which needs to be paid with the amount of $404.21 at the beginning of every period compounded monthly, at an interest rate of 5.94%. What is the duration of this annuity? A 5.07 years B 4.98 years 7.16 years 6.22 years

Jun 10, 2022

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9 Robert borrowed $28,372.63 from the bank, which needs to be paid with the amount of $404.21 at the beginning of every period compounded monthly, at an interest rate of 5.94%. What is the duration of...

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