Question: Use formula to solve this problem (No Excel Please) Question 7 10 points Save Answer Common information for 6 and 7 Andrew borrows 360,000 at

Use formula to solve this problem (No Excel Please)

Question 7 10 points Save Answer Common information for 6 and 7 Andrew borrows 360,000 at i-05. He repay this loan by paying off only the interest due at the end of each year to the leader and depositing a level amount Yut the end of each year into a sinking fund account offering 85 APY so as to accumulate the full balance of the loan amount in the sinking fund at the end of 20 years. Find the AEIR that Andrew ha ended up paying on hitlom. A.05 The answer does not appear here OC 0313 D. 0373 E0223

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