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A loan of $5000 requires monthly payments of $477 over a 36-month period of time. these payments include both principle and intrest. a. what is
A loan of $5000 requires monthly payments of $477 over a 36-month period of time. these payments include both principle and intrest.
a. what is the nominal intrest rate for this loan?
b.what is the effective intrest rate per year?
c. Determine the amount of unpaid loan principle after 20 months
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