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How many payments will have to make

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Problem 1: Serena borrowed $6,200 to buy a car to drive to college. She planned to study for three years, and then start working, using her education after the deferred period. Interest is charged on the loan at 7.64% compounded annually. If she starts making month-end payments of $230 only when she starts working, how many payments will she have to make?

Reference no: EM132841096

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