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Can someone do this question? Question 4 (3 points) Suppose you want to borrow $5,500 today to pay for a vacation. A bank has offered
Can someone do this question?
Question 4 (3 points) Suppose you want to borrow $5,500 today to pay for a vacation. A bank has offered to lend you that amount today. The loan is to be paid off over a 3-year period with monthly payments. The first payment will be 1 month from today. The interest rate on the loan is 5.31% (APR, compounded monthly). What will be your monthly payment on this loan? (Report your answer to 2 decimal places without any $ signs, e.g. 123.45.) YourStep by Step Solution
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