Question: How much is your loan payment based on the following: Time - 5 years Interest Rate - 5.8% Principle Balance - $28,000 Assume the interest

How much is your loan payment based on the following: 

Time - 5 years 

Interest Rate - 5.8% 

Principle Balance - $28,000 

Assume the interest rate is an APR. If needed, the discount rate is 4.2%.


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