Question: The weekly payment on a 7-year loan at 3.6% compounded weekly is $252 37. Calculate the amount of the loan Identify the appropriate formula needed
The weekly payment on a 7-year loan at 3.6% compounded weekly is $252 37. Calculate the amount of the loan Identify the appropriate formula needed to calculate the amount of the loan. Select the correct choice below and fill in the answer boxes to complete your choice. (Type integers or decimals. Round to two decimal places as needed.) AP and i % F with P=s in (1+1)" (1+1)" - 1 Rwith F5 3. F . and i % MC Ps 1-(1+1) R with n = 364,i = 07%, and R$ 252.37 The amount of the loan is $ 3605.30 (Do not round until the final answer. Then round to the nearest dollar as needed)
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