Amir decides to obtain a loan for the sum of $32,000, which he will begin to pay in 7 months and will be repaid over a period of 18 months, which will be in equal payments. So Amir wants to know how much the monthly payment is, taking into account that the interest rate is 28% compounded monthly. 

According to the calculation made, the monthly payment that Amir must make is:

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Calculation of the monthly payment The monthly payment for an amo... View the full answer