Question: Solving by Loan Amortization formules QUESTION 2 The interest rate on a $55,000 loan is 8.4% compounded monthly. The monthly payments are $900. Calculate the

Solving by Loan Amortization formules

QUESTION 2 The interest rate on a $55,000 loan is 8.4% compounded monthly. The monthly payments are $900. Calculate the loan balance immediately after the 12th payment. O $71,027.74 O $48,498.79 $16,027.74 O $40,259.28 O $48,576.43

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