Question: Hi please help me with the problem below, make sure write down detailed steps, thank you! Question 3 Kathy can take out a loan of

Hi please help me with the problem below, make sure write down detailed steps, thank you!

Hi please help me with the problem below, make sure write down

Question 3 Kathy can take out a loan of 50,000 with Bank A or Bank B. With Bank A, she must repay the loan with 60 monthly payments using the amortization method with interest at 7% compounded monthly. With Bank B, she can repay the loan with 60 monthly payments using the sinking compounded monthly can Bank B charge on the loan, so that Kathy's payment will be the same under either option? Hint: 6.782%

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