You have a $200,000 loan at 4% interst over 20 years. You make the payment plus $250 at the end of every month. How long will it take to pay off the loan in years? (Be accurate to two decimal places.) years

You have a $200,000 loan at 4% interst over 20 years. You make the payment plus $250 at the end of every month. How long will it take to pay off the loan in years? (Be accurate to two decimal places.) years

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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You have a $200,000 loan at 4% interst over 20 years. You make the payment plus $250 at the end of every month. How long will it take to pay off the loan in years? (Be
accurate to two decimal places.)
years

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