Vince loaned a certain amount from a cooperative and promised to pay it back with 2.37 times his original loaned amount. They agreed a nominal interest rate of 10.27 % compounded every 4 months every...

Show your complete solution.Vince loaned a certain amount from a cooperative and promised to pay it back with 2.37<br>times his original loaned amount. They agreed a nominal interest rate of 10.27 %<br>compounded every 4 months every year for n years. How many n years before he pay all<br>his loan with interest?<br>Answer rounded off with two 2 decimal places.<br>

Extracted text: Vince loaned a certain amount from a cooperative and promised to pay it back with 2.37 times his original loaned amount. They agreed a nominal interest rate of 10.27 % compounded every 4 months every year for n years. How many n years before he pay all his loan with interest? Answer rounded off with two 2 decimal places.

Jun 09, 2022
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