Violet is planning to make 29 semiannual loan payments of 1460 dollars each. If her bank charges interest at a rate of 3.8 percent per half-year, how much principal is in the 22nd payment?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Violet is planning to make 29 semiannual loan payments of 1460 dollars each. If her bank charges interest at a rate of 3.8 percent per half-year, how much principal is in the 22nd payment?

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