You borrow $ 29429 at 12.25 % interest compounded monthly. If you are unable to make any payments for 8 years, how much do you owe at the end of 8 years? No rounding off to interest rate and round off your final answer to 2 decimal places. Round your answer to 2 decimal places.

You borrow $ 29429 at 12.25 % interest compounded monthly. If you are unable to make any payments for 8 years, how much do you owe at the end of 8 years? No rounding off to interest rate and round off your final answer to 2 decimal places. Round your answer to 2 decimal places.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

You borrow $ 29429 at 12.25 % interest compounded monthly. If you are unable to make any payments for 8 years, how much do you owe at the end of 8 years?

No rounding off to interest rate and round off your final answer to 2 decimal places.

Round your answer to 2 decimal places.

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