Your company has received a 50000 loan from an industrial


Your company has received a $50,000 loan from an industrial finance co. The annual payments are $6202.70. If the company is paying 9% interest per year, how many loan payments must the company make?

A. 15
B. 19
C. 12
D. 13

 

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Finance Basics: Your company has received a 50000 loan from an industrial
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