You take out a loan of 1108 to buy a new computer from, Ask an Expert

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You take out a loan of $1108 to buy a new computer from Banana Computer. The company tells you that no payments are due for 2 year(s). However, interest will accrue and compound daily at an APR of 24.16%. What is the balance owed on your loan when the first payment is due? (Assume a 365-day year.)

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Category:- Financial Management
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