Question: Please Solve using formula step by step 1) We take a 20 year loan of $100,000 from a bank the nominal annual interest rate is

Please Solve using formula step by step

1) We take a 20 year loan of $100,000 from a bank the nominal annual interest rate is 3% with interest credited calculated monthly just before the monthly payment are due. A) Find the amount of monthly payments B) Find the outstanding balance right at the end of 10th year using the prospective method. C) Find the Same outstanding balence using the retrospective method. This Is Financial Math 1) we take a 20yr loan of #100,000 from a back. The nomined annual interest rate is 3% w/ interest credited calulated monthly jut before the monthy payments are due. a) Find the amount of monthly payments 6) Find the outstanding balance right at the end of 10th yr using the prospective method c) Find the same outstanding balance using the retrospective method

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