Question: What monthly payment is required to pay off a $50,000 loan in seven years, if the interest rate on the loan is 7.5% compounded: a.

What monthly payment is required to pay off a $50,000 loan in seven years, if the interest rate on the loan is 7.5% compounded:
a. Annually?
b. Semiannually?
c. Quarterly?
d. Monthly?

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