Question: Solve the problem and draw a cash flow diagram for this problem plz and thank you 18500 2.7 To purchase a new truck, you borrow

Solve the problem and draw a cash flow diagram for this problem plz and thank you

Solve the problem and draw a cash flow diagram for this problem

18500 2.7 To purchase a new truck, you borrow The bank offers an interest rate of 4.5% compounded monthly. If you take a five-year loan and you will be making monthly payments, what is the total amount that must be paid back? a. What is the number of time periods (n) you should use in solving this problem? b. What rate of interest (i), per period of time, should be used in solving this problem? c. Is the present single amount of money (P) known? (Yes or No)

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