a 6,000 loan Is to be paid in n equal annual installments. The interest rate of

Question

a 6,000 loan Is to be paid in n equal annual installments. The interest rate of 4%. The Interest paid in the (n-2)nd installment is $111. Find n. A 5, B 7, C 9, D 11, E 13
Please, no excel spreadsheets. a 6,000 loan Is to be paid in n equal annual installments. The interest rate of 4%. The Interest paid in the (n-2)nd installment is $111. Find n. A 5, B 7, C 9, D 11, E 13
Please, no excel spreadsheets. a 6,000 loan Is to be paid in n equal annual installments. The interest rate of 4%. The Interest paid in the (n-2)nd installment is $111. Find n. A 5, B 7, C 9, D 11, E 13
Please, no excel spreadsheets.

Explanation / Answer

7

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