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A contractor decided to borrow $7000 from a bank in order to buy an equipment for his company. The bank allows him pay back his
A contractor decided to borrow $7000 from a bank in order to buy an equipment for his company. The bank allows him pay back his toan in five years at a monthly interest rate of the farmer can pay 571 per month but can increase his monthly payment by a certain value in arithmetic way (G value). What should be the value so that he finished the loan by the end of five years? S98274 27 $3232 5600322 55.37 5799678 A contractor decided to borrow $7000 from a bank in order to buy an equipment for his company. The bank allows him pay back his loan in five years at a monthly interest rate of 7%. the farmer can pay $71 per month but can increase his monthly payment by a certain value in arithmetic way (G value). What should be the G value so that he finished the loan by the end of five years? O $ 98274.27 O $ 32.32 O $ 6003.22 O $ 5.37 O $ 7996.78
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