The total interest paid on a 3-year loan at 6% interest compounded monthly is $1,085.16. Determine the

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The total interest paid on a 3-year loan at 6% interest compounded monthly is $1,085.16. Determine the monthly payment for the loan. (Use the fact that the loan amount equals 36 # R - [total interest].)

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Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Question Posted: Feb 12, 2018 09:29 AM

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The total interest paid on a 3-year loan at 6% interest compounded monthly is $1,085.16. Determine the

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The loan amount F is 36 times the pay...View the full answer

Finite Mathematics and Its Applications

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