Assume that you want to borrow $48,000 The loan is to be paid within 4 years Bank will charge 8 p a for your loan What will be your monthly annuity (money) payment during 4 years (Payments will be done at the beginning of every month)

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Assume that you want to borrow $48,000  The loan is to be paid within 4 years  Bank will charge 8  p a  for your loan  What will be your monthly annuity (money) payment during 4 years  (Payments will be done at the beginning of every month)

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Question

Assume that you want to borrow $48,000. The loan is to be paid within 4 years. Bank will charge 8% p.a. for your loan. What

Assume that you want to borrow $48,000. The loan is to be paid within 4 years. Bank will charge 8% p.a. for your loan. What will be your monthly annuity (money) payment during 4 years? (Payments will be done at the beginning of every month)

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