riky144 riky144

27-11-2017
Mathematics

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Giovanni took out a loan for $3900 at 14% interest, compounded annually. If he makes yearly payments of $540, will he ever pay off the loan?

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Аноним Аноним

27-11-2017

No, because $540 is less than the amount of interest he is charged per year Hope this helps

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27-11-2017

In about 40 years he can have it payed off

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