Question: Anna borrows $ 5 0 , 0 0 0 to the bank at a nominal interest rate i ( 1 2 ) = 6 %

Anna borrows $50,000 to the bank at a nominal interest rate i(12)=6%,(compounded
monthly). She repays this loan by doing monthly payments (at the end of each month)
during 6 years. If each of the 36 first payments are of $R and each one of the last 36
payments are of $(R+1000). Using geometric series, determine R, AND the interest that anna paid to the bank.
 Anna borrows $50,000 to the bank at a nominal interest rate

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