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Wednesday, 12 February 2020
Calculate the monthly loan payment (MP) given a 6 %, 5 years with monthly compounding. The loan is for $125,500
Calculate the monthly loan payment (MP) given a 6 %, 5 years with monthly compounding. The loan is for $125,500.
a. Calculate MP (ordinary annuity):
b. Calculate the Loan Balance after 3.5 years:
c. Calculate the MP as an annuity due:
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