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A person borrows $9000 and agrees to repay the loan in monthly installments over 5 years. The agreement is to pay 1% of the
A person borrows $9000 and agrees to repay the loan in monthly installments over 5 years. The agreement is to pay 1% of the unpaid balance each month for using the money and $150 each month to reduce the loan. What is the total cost of this loan, that is, what is the sum of all the monthly interest payments? Cost of loan =
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Fractal Functions, Fractal Surfaces, And Wavelets
Authors: Peter R Massopust
2nd Edition
0128044705, 9780128044704
