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(2 points) Fred Colon took a $90,000 loan at a nominal annual interest rate of 15%, compounded monthly. Fred is to repay the loan by
(2 points) Fred Colon took a $90,000 loan at a nominal annual interest rate of 15%, compounded monthly. Fred is to repay the loan by making bimonthly payments over the course of 9 years starting two months after the loan was made. Find the amount of payment, interest due, principal repayment, and outstanding balance for Fred's 31st payment if Fred makes equal bimonthly payments. t Payment Interest Due Principal Outstanding Repaid Balance | 31 (2 points) Fred Colon took a $90,000 loan at a nominal annual interest rate of 15%, compounded monthly. Fred is to repay the loan by making bimonthly payments over the course of 9 years starting two months after the loan was made. Find the amount of payment, interest due, principal repayment, and outstanding balance for Fred's 31st payment if Fred makes equal bimonthly payments. t Payment Interest Due Principal Outstanding Repaid Balance | 31
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