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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 10
Solve the following application problems. Use the loan payoff table. (See Objective.)
Set up an amortization schedule.
SMART PHONE Ben Watson needs $50,000 to set up his own booth at a local mall. He has $15,000 and financed the balance at a high rate of 14% for 36 months since he did not have much credit history. Prepare an amortization schedule showing the first 5 payments.
Set up an amortization schedule.
SMART PHONE Ben Watson needs $50,000 to set up his own booth at a local mall. He has $15,000 and financed the balance at a high rate of 14% for 36 months since he did not have much credit history. Prepare an amortization schedule showing the first 5 payments.
Explanation
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The down payment is 
.
Therefore, the a...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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