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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 167
Solve the following application problems. Use the loan payoff table. (See Objective.)
Set up an amortization schedule.
AMORTIZING A LOAN Rebecca Reed just graduated from dental school and borrows
$120,000 from Citibank to purchase equipment for her own business. She agreed to amortize the loan with monthly payments at 10% for 4 years. Prepare an amortization schedule for the first 5 payments.
Set up an amortization schedule.
AMORTIZING A LOAN Rebecca Reed just graduated from dental school and borrows
$120,000 from Citibank to purchase equipment for her own business. She agreed to amortize the loan with monthly payments at 10% for 4 years. Prepare an amortization schedule for the first 5 payments.
Explanation
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The following information is given, 
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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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