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A loan of $14,354 was repaid at the end of 16 months. What size repayment check (principal and interest) was written, if a 7.4% annual rate of interest was charged?

A loan of $14,354 was repaid at the end of 16 months. What size repayment check (principal and interest) was written, if a 7.4% annual rate of interest was charged?
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A loan of $14,354 was repaid at the end of 16 months. What size repayment check (principal and interest) was written, if a 7.4% annual rate of interest was charged?

User Jake Kalstad
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1 Answer

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Principal = P = $14,354

Rate = r

User Jonathan Olson
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