You borrow $24,000 today at an interest rate of 7.2%. The loan is to be paid back

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You borrow $24,000 today at an interest rate of 7.2%. The loan is to be paid back in equal monthly installments over a 5-year period.

Find your monthly payment amount? The first payment is due one month from today.

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Jun 14, 2023 11:55 PM

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You borrow $24,000 today at an interest rate of 7.2%. The loan is to be paid back

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To calculate the monthly payment amount we can use the formula for calculating the month... View the full answer

Income Tax Fundamentals 2013

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