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A husband and wife want to borrow $100,000 at 12% interest compounded monthly for 20 years. They agree to a variable payment loan with
A husband and wife want to borrow $100,000 at 12% interest compounded monthly for 20 years. They agree to a variable payment loan with payments increasing at 0.5% per month. Find the initial payment.
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Finite Mathematics and Its Applications
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
12th edition
978-0134768588, 9780134437767, 134768582, 134437764, 978-0134768632
