On January 1, 2009, Karina owed $11,981 to her friend Gregory, who was kind enough not to charge Karina any interest. Each month during 2009, Karina paid Gregory some of the money she owed. If Karina still owed Gregory $4,937 on January 1, 2010, what was the average amount of Karina's monthly payments? $ Give answer to the nearest penny.
On January 1, 2009, Karina owed $11,981 to her friend Gregory, who was kind enough not to charge Karina any interest. Each month during 2009, Karina paid Gregory some of the money she owed. If Karina still owed Gregory $4,937 on January 1, 2010, what was the average amount of Karina's monthly payments? $ Give answer to the nearest penny.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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On January 1, 2009, Karina owed $11,981 to her friend Gregory, who was kind enough not to charge Karina any interest. Each month during 2009, Karina paid Gregory some of the money she owed. If Karina still owed Gregory $4,937 on January 1, 2010, what was the average amount of Karina's monthly payments?
$ Give answer to the nearest penny.
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