Your dad would like to finance you to complete college. He agrees to lend you $12,000 on your 21st birthday when you join college and agrees to increase the amount lent each year by $2,000 for the next 3 years. If you have to pay him back $18,000 per year on your 28th birthday to your 32nd birthday, what internal rate of return per year compounded yearly did you end up paying for the amount borrowed from your dad?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Your dad would like to finance you to complete college. He agrees to lend you $12,000 on your 21st birthday when you join college and ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A number t multiplied by - 4 is at least - 2/5
Answers (1)
What is the place value of the 4 in 475
Answers (1)
Target sells 6 pairs of socks for 24.00 what does it cost for 1 pair of socks
Answers (1)
Demand The demand function for the product is given by p = 10,000 (1 - 3/3 + e^-0.001x) where p is the price per unit (in dollars) and x is the number of units sold. Find the numbers of units sold for prices of (a) p = $500 and (b) p = $1500.
Answers (1)
7 more than d is equal to 19
Answers (2)
New Questions in Mathematics
Given ∠11≅∠13. Which lines, if any, must be parallel based on the given information? Justify your conclusion.
Answers (1)
What logarithmic function represents the data in the table? x f (x) 1 0 3 1 9 2
Answers (2)
Mrs Parks takes the 9:38am train to the city. The trip takes 3hours and 20 minutes. What time does Mrs Park arrive in the city?
Answers (2)
Diana is doing her math homework. Out of 24 problems Total, she completes the first 12 problems in one hour in the last 12 problems in three hours. What is the unit rate for all 24 problems
Answers (1)
3^2-2*3+u = (3^3-3*8) (2) + u
Answers (1)