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Posted on Aug 28, 2024

Assume that B have mortgage loan $68,000 with 31% of effective interest rate per year this loan have to pay monthly installment equally for 60

Assume that B have mortgage loan $68,000 with 31% of effective interest rate per year

this loan have to pay monthly installment equally for 60 months.

What's the installment and Effective Rate per month and Can I find flat rate per month, does it same as "nominal rate"?

Thank you so much.

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