Question: A $ 1 3 , 0 0 0 loan is to be amortized by equal monthly payments for five years. The interest rate is 1
A $ loan is to be amortized by equal monthly payments for five years. The interest rate is compounded monthly.How much interest will the debtor pay in total over the fiveyear period?
a
$
b
$
c
$
d
$
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