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Aldo is taking out an amortized loan for $89,000 to open a small business and is deciding between the offers from two tender He wants

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Aldo is taking out an amortized loan for $89,000 to open a small business and is deciding between the offers from two tender He wants to know which one would be the better deal over the life of the small business loan, and by how much Answer each part. Do not round intermediate computations, and round your answers to the nearest cent If necessary, refer to the list of financial formulas (a) A bank has offered him a 10-year small business loan at an annual interest rate of 14.7%. Find the monthly payment. 2 si (b) A savings and loan association has offered him a 9-year small business loan at an annual interest rate of 16,4% Find the monthly payment si (c) Suppose Aldo pays the monthly payment each month for the full term. Which lender's small business loan would have the lowest total amount to pay off, and by how much? Bank Continue 2 A

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