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How long will it take to settle the loan

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Question - Lush Gardens Co. bought a new truck for $62,000. It paid $6,200 of this amount as a down payment and financed the balance at 4.25% compounded semi-annually. If the company makes payments of $1,900 at the end of every month, how long will it take to settle the loan? (Question relates to Annuities - Future and Present Value Calculations for Ordinary Simple and General Annuity)

Reference no: EM132953281

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