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andreyandreev [35.5K]
3 years ago
7

In calculating the monthly payment for a five-year loan, what value should be used for n, the number of periods over which the l

oan is repaid, as it appears in the following formula? 2007-10-03-00-00_files/i0060000.jpg a. 5 b. 12 c. 60 d. 120
Mathematics
2 answers:
BartSMP [9]3 years ago
8 0

Answer:

The answer is actually C. 60


Genrish500 [490]3 years ago
5 0

Answer:

<u><em>The answer is</em></u>: <u>c. 60.</u>

<u />

Step-by-step explanation:

To calculate the monthly payment for 5 years, the 12 months of 1 year should be multiplied by the 5 years of the duration, which is equal to 60 = 5 x 12.

<u><em>The answer is</em></u>: <u>c. 60.</u>

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Answer:

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Hope this helps! ;)

6 0
4 years ago
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3 years ago
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