Question: I just need the correct answer Question 19 You take out a two-year loan for $500,000 at rate of 9% APR compounded monthly. The bank

I just need the correct answer

Question 19

You take out a two-year loan for $500,000 at rate of 9% APR compounded monthly.

The bank decides to let you skip every 12th payment. That is, you have payments in months 1 to 11 and 13 to 23, for a total of 22 payments. If the payments are all the same size, how big are the payments?

Group of answer choices

$24,827

$26,069

$26,064

$24,737

Question 20

LO1

You take out a bank loan today for $20,000 . You will repay the loan with two equal payments in years 4 and 5 . If the loan interest rate is 3.00% compounded annually, how big are the payments?

Group of answer choices

$11,088.76

$11,197.47

$11,421.42

$11,308.34

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