November 26, 2015

Homework Help: math of investment

Posted by Icy on Friday, February 22, 2008 at 8:36pm.

An article cost $29885. To buy this article, a down payment of $3420 is needed.If interest charged is 16% compunded quarterly, how much should be paid at the end of every 3 months for 1 year in order to payoff the balance?

please explain,i don't understand...thank you very much

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