Question: Hi please answer this page full answer with the steps 2 (20 points). A debt of $20,000 must be repaid in a series of equal

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full answer with the steps
2 (20 points). A debt of $20,000 must be repaid in a series of equal payments for 4 years. The nominal annual interest rate is 6%. a (5 pts). If interest is compounded monthly, the amount of monthly payment is eq ual to A. $380 B. $420 C. $470 D. $522 b (5 pts). Using the pay schedule in (a), the total interest paid on this debt is A) $2,140 B) $2,320 C) $2,560 D) $3,200 c (10 pts). If interest is compounded bimonthly, the amount of bimonthly payment is equal to A) $823 B) $889 C) $941 D) $982
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