Question: Want to know what equation was used https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkld=5662 MAT-144-0503 (1) Homework: Module 1 Homework (unlimited attempts) Score: 0 of 1 pt 3 of 25 (2

Want to know what equation was used

https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkld=5662 MAT-144-0503 (1) Homework: Module 1 Homework (unlimited attempts) Score: 0 of 1 pt 3 of 25 (2 complete) 1.1.9 Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $78,000 at an APR of 7%, which will be paid off with monthly payments of $551 for 25 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount The amount borrowed is $ 78,000 , the annual interest rate is 7 %, the number of payments per year is 12 , the loan term is 24 y Enter your answer in the edit fields and then click Check Answer. 2 parts emaining Clear All

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