Your company has a $100,000 loan for a new security system it just bought. The annual payment is $8,880 and the interest rate is 8% per year for 30 years. Your company decides that it can afford to...


Your company has a $100,000 loan for a new security system it just bought. The annual payment is $8,880 and the interest rate is 8% per year for 30 years. Your company decides that it can afford to pay $10,000 per year. After how many payments (years) will the loan be paid off ?



Jun 03, 2022
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