You intend to borrow $ 2 5 , 0 0 0 from your bank to buy a

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Question:

You intend to borrow $

25, 000

from your bank to buy a boat. The loan will be amortized over a period of

6

years. The nominal interest rate is

11 %

and interest is paid monthly. What are the monthly payments O a

.

475.85

O b

.

522.53 0

.

622.55

O d

.

430.44

Posted Date: May 19, 2024 06:06 AM

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