Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Dr Sawicki obtained a variable-rate loan of $10000 The lender required payment of at least...

Dr Sawicki obtained a variable-rate loan of $10000 The lender required payment of at least $2000 each year. After nine months the doctor paid $2500 and another nine months later she paid

Dr. Sawicki obtained a variable-rate loan of $10,000. The lender required payment of at least $2000 each year. After nine months the doctor paid $2500, and another nine months later she paid $3000. What amount was owed on the loan after two years if the interest rate was 6.6% compounded monthly for the first year, and 7% compounded quarterly for the second year?

Apr 01 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions