Samir wants to expand his pharmacy. To do this, he takes out a bank loan of $49,275
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Samir wants to expand his pharmacy. To do this, he takes out a bank loan of $49,275 and agrees to repay it at 12.2% compounded monthly over 48 months. Find the amount of each payment necessary to amortize this loan.
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49275 is the present value of an annuity ...View the full answer
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