A couple borrowed $97,000 at 7.2% compounded monthly for 25 years to purchase a condominium. (a) Find

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A couple borrowed $97,000 at 7.2% compounded monthly for 25 years to purchase a condominium.

(a) Find their monthly payment.

(b) Over the 25 years, how much interest will they pay?

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Mathematical Applications For The Management, Life And Social Sciences

ISBN: 9781337625340

12th Edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Question Posted: Oct 21, 2020 03:47 AM

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A couple borrowed $97,000 at 7.2% compounded monthly for 25 years to purchase a condominium. (a) Find

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Mathematical Applications For The Management, Life And Social Sciences

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