Question: Please show work-- no excel but allowed BA II Plus Your client just borrowed $100,000 for 48 months. The loan requires equal monthly payments plus

Please show work-- no excel but allowed BA II Plus Your

Please show work-- no excel but allowed BA II Plus

Your client just borrowed $100,000 for 48 months. The loan requires equal monthly payments plus a $25,000 balloon. It has an interest rate of 9% APR compounded monthly, what will be the loan balance at the end of the first year (after 12 payments)? 16. Answer: $83,691.63

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