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Lee took out a loan for $1900 at 6% interest, compounded annually. If he makes yearly payments of $220, will he ever pay off the loan?
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1 vote
Lee took out a loan for $1900 at 6% interest, compounded annually. If he

makes yearly payments of $220, will he ever pay off the loan?

User Meaku
by
6.5k points

1 Answer

6 votes

Explanation:

because $220 is greater than the amount of ...

User Candlejack
by
8.5k points
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