Question: 12. In the third scenario, Liam could pay back the loan for eight years with a monthly payment of $8,000 and then renegotiate better terms.

12. In the third scenario, Liam could pay back the loan for eight years with a monthly payment of $8,000 and then renegotiate better terms. He wants to know the amount remaining on the loan after eight years, or the future value of the loan.

Use the monthly interest rate, the loan period in months, the monthly payment, and the loan amount to calculate the future value of the loan for the eight-year scenario.

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