Mathematics, 06.05.2021 15:50, frankgore7598

Kendall borrows $100,000 on January 1, 2019 to be repaid in 12 annual installments at an effective annual rate of interest of 8%. The first payment is due on January 1, 2020. Instead of annual payments, she decides to make monthly payments equal to one-twelfth the annual payment beginning on February 1, 2019. Determine how many months will be needed to pay off the loan

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Kendall borrows $100,000 on January 1, 2019 to be repaid in 12 annual installments at an effective a...

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