What monthly payment is required to amortize a loan of$40,000over13years if interest at the rate of5%/year is

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What monthly payment is required to amortize a loan of $40,000 over 13 years if interest at the rate of 5%/year is charged on the unpaid balance and interest calculations are made at the end of each month? (Round your answer to the nearest cent.)
$

317.14 IS INCORRECT

Related Book For answer-question

Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Posted Date: Mar 19, 2024 01:20 PM

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What monthly payment is required to amortize a loan of$40,000over13years if interest at the rate of5%/year is

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Contemporary Business Mathematics With Canadian Applications

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