Answer: -14
Step-by-step explanation: This is right bro. 100%
Answer:
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Step-by-step explanation:
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Answer:

Step-by-step explanation:
<u>Compound Interest</u>
This is a well-know problem were we want to calculate the regular payment R needed to pay a principal P in n periods with a known rate of interest i.
The present value PV or the principal can be calculated with

Solving for R

Where Fa is computed by

We'll use the provided values but we need to convert them first to monthly payments




Thus, each payment is

