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Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded
Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.) P = 50,000, r = 2.5, t = 14, m = 12 What monthly payment is required to amortize a loan of $50,000 over 10 years if interest at the rate of 8%/year is charged on the unpaid balance and interest calculations are made at the end of each month? (Round your answer to the nearest cent.) $
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