The loan will have a term of 5 4 months and monthly payments of $ 3 8

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Question:

The loan will have a term of

54

months and monthly payments of $

385.13 .

The interest rate on the loan is

8.84 %

compounded quarterly. What is the amount of money that was borrowed?

Posted Date: May 10, 2024 02:05 AM

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The loan will have a term of 5 4 months and monthly payments of $ 3 8

Question:

Expert Answer:

To calculate the amount of money that was borrowed we can use the ... View the full answer

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