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A couple borrows $15 000 to be repaid with monthly payments over 48 months at i(4) = 10%. They make the first 14 payments and
A couple borrows $15 000 to be repaid with monthly payments over 48 months at i(4) = 10%. They make the first 14 payments and miss the next three. What new monthly payments over would repay the loan on schedule and no penalty is applied? (Ie: there will be 31 payments made after the payments start again. (14 paid +3 missed+31 paid=48)
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