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One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments of $550 per month and will charge a monthly interest rate of 1.38 percent. How many months will it take for the account to be paid off? Multiple Choiçce 48.00 months 85.32 months 79.23 months 73.95 months 37.08 months

One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments of $550 per month and will charge a monthly interest rate of 1.38 percent. How many months will it take for the account to be paid off? Multiple Choiçce 48.00 months 85.32 months 79.23 months 73.95 months 37.08 months

Essentials Of Investments
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
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One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments of $550 per month and will charge a monthly interest rate of 1.38 percent. How many months will it take for the account to be paid off? Multiple Choice 48.00 months 85.32 months 79.23 months 73.95 months 37.08 months
Transcribed Image Text:One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments of $550 per month and will charge a monthly interest rate of 1.38 percent. How many months will it take for the account to be paid off? Multiple Choice 48.00 months 85.32 months 79.23 months 73.95 months 37.08 months
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