please answer without copy paste and with all work like explanation , computation, formula with steps need correct and complete answer for better understanding please answer in text The maturity value for a loan is $58301. The loan earned interest at a rate of 6.2%compounded quarterly for 5 years. How many times was the loan compounded (what is thenumber of compounding periods)?Answer:

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Description: please answer without copy paste and with all work like explanation , computation, formula with steps need correct and complete answer for better understanding please answer in text The maturity value for a loan is $58301. The loan earned interest a

In compounding there is interest on interest including interest on the amount of orginal amount of…

Answered: compounded quarterly for 5 years. How…

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compounded quarterly for 5 years. How many times was the loan compounded (what is the number of compounding periods)? Answer:

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...

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