A 28,250 loan at 9% compounded quarterly is repaid by monthly payments over the 5 years A)

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A 28,250 loan at 9% compounded quarterly is repaid by monthly payments over the 5 years

A) what is the amount of the final payment?

B) calculate the principle and interest portions of the payments in the final year

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Linear Algebra A Modern Introduction

ISBN: 978-0538735452

3rd edition

Authors: David Poole

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Posted Date: Jan 29, 2024 08:00 AM

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A 28,250 loan at 9% compounded quarterly is repaid by monthly payments over the 5 years A)

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Expert Answer:

A The amount of the final payment can be calculated using the formula for the present value of a sin... View the full answer

Linear Algebra A Modern Introduction

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