Please help, file is attached
1 answer:
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Answer:
The correct answer to the following question will be "70.56".
Step-by-step explanation:
The given values are:
Loan requires, PV = $100,000
Years = 20
Number of months, n = 240
Rate interest = 4.90000%
Monthly rate, r = 0.408333%
Monthly rental payment = $725
As we know,
On putting the values in the above formula, we get
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⇒
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Now,
On putting the values, we get
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