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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 66
Find the amount of each payment necessary to amortize the following loans.
Scented Candles remodeled its lobby at a cost of $36,000. It pays $6000 down and pays off the balance in payments made at the end of each quarter for 5 years. Interest is 10% compounded quarterly. Find the amount of each payment so that the loan is fully amortized. ___________
Scented Candles remodeled its lobby at a cost of $36,000. It pays $6000 down and pays off the balance in payments made at the end of each quarter for 5 years. Interest is 10% compounded quarterly. Find the amount of each payment so that the loan is fully amortized. ___________
Explanation
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Find the amount of loan, 
.
The followi...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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