How many months was the loan taken out

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Problem 1: Debts of $850 due in six months, $700 due in sixteen months, and $1100 due in three years are to be settled by a single payment one year from now. What is the size of that single payment if interest is 7.5% compounded monthly?

Problem 2: Calculate the number of years for money to triple at 3.6% p.a. compounded monthly.

Problem 3: A loan of $4500.00 was repaid together with interest of $1164.00. If interest was 12 .4% compounded quarterly, for how many months was the loan taken out?

Reference no: EM132758659

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