Lush Gardens Co. bought a new truck for $54,000. It paid $5,400 of this amount as a down payment and financed the balance at 5.41% compounded semi-annually. If the company makes payments of $2,100 at the end of every month, how long will it take to settle the loan?
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Lush Gardens Co. bought a new truck for $52,000. It paid $5,200 of this amount as a down payment and financed the balance at 5.50% compounded semi-annually. If the company makes payments of $2,000 at the end of every month, how long will it take to settle the loan?
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