Determine the monthly repayments needed to repay a $125 000 loan which is paid back over 20

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Determine the monthly repayments needed to repay a $125 000 loan which is paid back over 20 years when the interest rate is 7% compounded annually. Round your answer to two decimal places.

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Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Question Posted: Apr 18, 2019 09:19 AM

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Determine the monthly repayments needed to repay a $125 000 loan which is paid back over 20

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If each repayment is x then amount owed at the end of the first year is 125...View the full answer

Mathematics for Economics and Business

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