Question: Anna borrows $ 5 0 , 0 0 0 to the bank at a nominal interest rate i ( 1 2 ) = 6 %
Anna borrows $ to the bank at a nominal interest rate compounded
monthly She repays this loan by doing monthly payments at the end of each month
during years. If each of the first payments are of $ and each one of the last
payments are of $ Using geometric series, determine AND the interest that anna paid to the bank.
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