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9. A paroel of land, valued at $350 on, is sold for $150 IJIII down The buyer agrees to pay the balance with interest at in = 9% by paying $5001] monthly as long as neoessary. the rst payment due 2 years from now. a] Determine the number of full payments needed and the size of the concluding payment one month after the last $50111} payment. b] Determine the monthly payment needed to pay off the balance by 36 equal payments, if the rst payment is 1 year from now and interest is at ju = 12%. Solution a] 53: $332.32 1:} $T41123 4|