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YOU NEED SOME MONEY TODAY AND THE ONLY FRIEND YOU
You need some money today and the only
friend you have that has any is your miserly friend. He agrees to loan you the
money you need, if you make payments of $30 a month for the next six months. In
keeping with his reputation, he requires that the first payment be paid today.
He also charges you 2 percent interest per month. How much money are you
borrowing?” $164.09 $168.22 $169.50 $170.68 $171.40 ***please show steps with a
financial calculator****

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