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PrettyGirl22 Group Title

Your company will make quarterly payments of $12,500 on a $250,000 piece of equipment at 8.25% interest. How many years will it take to pay off the loan?

  • one year ago
  • one year ago

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  1. YungPolo87434 Group Title
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    idk i need the answer to this problem x<7;7

    • one year ago
  2. YungPolo87434 Group Title
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    what is it

    • one year ago
  3. PrettyGirl22 Group Title
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    what does the question ask you

    • one year ago
  4. YungPolo87434 Group Title
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    \[x <7;7\]

    • one year ago
  5. PrettyGirl22 Group Title
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    i need more details

    • one year ago
  6. YungPolo87434 Group Title
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    tell whether the number in bold solution

    • one year ago
  7. YungPolo87434 Group Title
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    for each inequality,tell whether the number in bold is a solution

    • one year ago
  8. YungPolo87434 Group Title
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    hello

    • one year ago
  9. PrettyGirl22 Group Title
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    i'm not sure go on yahoo and ask

    • one year ago
  10. agent0smith Group Title
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    I'm assuming the 8.25% interest is compounded yearly...? My initial calculations suggest that the company will never pay off the loan... maybe I've done something wrong.

    • one year ago
  11. PrettyGirl22 Group Title
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    its quarterly payments

    • one year ago
  12. agent0smith Group Title
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    Yeah, but the 8.25% interest rate, it doesn't say if it's compounded yearly or what. The payments are quarterly, maybe the interest is too? idk, it should tell you.

    • one year ago
  13. PrettyGirl22 Group Title
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    nope thats all the information

    • one year ago
  14. agent0smith Group Title
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    Have you studied compound interest yet? Maybe it's just simple interest

    • one year ago
  15. agent0smith Group Title
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    Simple interest makes it way easier to solve

    • one year ago
  16. agent0smith Group Title
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    And as far as I can tell, using compound interest... the company won't EVER pay off the loan.

    • one year ago
  17. PrettyGirl22 Group Title
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    they will its a problem in excel

    • one year ago
  18. PrettyGirl22 Group Title
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    You want to buy a new motorcycle. The payments will be $244.22 per month for 8 years. The interest rate is 7.35%. What is the asking price of the motorcycle? here is a problem similar

    • one year ago
  19. agent0smith Group Title
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    Have you studied compound interest? There's a big difference between that and simple interest for these problems.

    • one year ago
  20. agent0smith Group Title
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    I'm guessing they're simple interest problems

    • one year ago
  21. PrettyGirl22 Group Title
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    yeah but this is for a computer science class

    • one year ago
  22. agent0smith Group Title
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    Oh, I'm not familiar with computer science, so it looks like I was going at it the wrong way. I looked it up and don't recognize the formulas. This should help, it looks like the same problem as yours: http://answers.yahoo.com/question/index?qid=20121210132233AAtJBAz

    • one year ago
  23. agent0smith Group Title
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    this looks like it may have the formula you need: http://www.cimaglobal.com/Thought-leadership/Newsletters/Insight-e-magazine/Insight-2011/Insight-January-2011/Spreadsheet-skills-a-debt-to-repay/

    • one year ago
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