Question: Daniel borrowed $ 2 0 0 0 0 with a promise to repay the loan in 6 years with a uniform monthly payment and a

Daniel borrowed $20000 with a promise to repay the loan in 6 years with a uniform monthly payment and a single payment of $2000 at the end of six years at a nominal interest rate of 12% per year. a. What is the amount of each monthly payment?b. What will be the loan balance immediately after the 48th payment?

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