A loan of $127,000.50 is to be amortized over a 5-year term at 5.4% interest compounded monthly,

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A loan of $127,000.50 is to be amortized over a 5-year term at 5.4% interest compounded monthly, with monthly payments and a $10,000 balloon payment at the end of the term. Calculate the monthly payment?

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Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Question Posted: Feb 12, 2018 09:29 AM

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A loan of $127,000.50 is to be amortized over a 5-year term at 5.4% interest compounded monthly,

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Finite Mathematics and Its Applications

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