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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 21
Solve the following application problems. Use the loan payoff table. (See Objective.)
Set up an amortization schedule.
SCUBA EQUIPMENT Jessica Chien needed $280,000 for inventory for a scuba diving shop that she was opening. She had $40,000, and the bank loaned her the balance at 11% for 30 months. Prepare an amortization schedule showing the first 5 payments.
Set up an amortization schedule.
SCUBA EQUIPMENT Jessica Chien needed $280,000 for inventory for a scuba diving shop that she was opening. She had $40,000, and the bank loaned her the balance at 11% for 30 months. 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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