30. Ganesh is planning to train for the Cricket team in India. To fund this adventure,...
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30. Ganesh is planning to train for the Cricket team in India. To fund this adventure, he needs to take out a loan for $10,000. Ganesh's family will make 60 equal monthly payments at an effective annual interest rate of 5%. His first uncle is going to make principal payments for the even months (2, 4, 6, ..., 60) and his first cousin is going to make interest payments in the odd months (1, 3, 5, ..., 59). Ganesh is going to make the remaining payments after his cousin and uncle have made payments. What is the total amount Ganesh will need to repay on his loan? Adapt Note: The question intends to say that Ganesh would pay what is left over after his uncle and his cousin's each payment. A B 5,625 C D 4,750 E 5,665 6,325 7,110 paym Ganesh is going to make the remaining pay payments. What is the total amount Ganesh will need to Adapt Note: The question intends to say that uncle and his cousin's each payment. A B C D E 4,750 5,625 5,665 6,325 7,110 30. Ganesh is planning to train for the Cricket team in India. To fund this adventure, he needs to take out a loan for $10,000. Ganesh's family will make 60 equal monthly payments at an effective annual interest rate of 5%. His first uncle is going to make principal payments for the even months (2, 4, 6, ..., 60) and his first cousin is going to make interest payments in the odd months (1, 3, 5, ..., 59). Ganesh is going to make the remaining payments after his cousin and uncle have made payments. What is the total amount Ganesh will need to repay on his loan? Adapt Note: The question intends to say that Ganesh would pay what is left over after his uncle and his cousin's each payment. A B 5,625 C D 4,750 E 5,665 6,325 7,110 paym Ganesh is going to make the remaining pay payments. What is the total amount Ganesh will need to Adapt Note: The question intends to say that uncle and his cousin's each payment. A B C D E 4,750 5,625 5,665 6,325 7,110
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