Question: (1 point) Barbara borrows $3200. She agrees to make monthly interest payments on the loan and will build up a sinking fund with monthly deposits

(1 point) Barbara borrows $3200. She agrees to make monthly interest

(1 point) Barbara borrows $3200. She agrees to make monthly interest payments on the loan and will build up a sinking fund with monthly deposits to repay the principal with a single payment 17 months from now. If the interest being charged on the loan is j12 = 8.2% and the interest being earned on the sinking fund is j12 = 7.2%, what is the monthly cost of the debt for Barbara? = Answer: $

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