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How do you solve this in a financial calculator? 14) You wish to borrow $17,000 to be repaid in 66 monthly installments of $325.43. What
How do you solve this in a financial calculator?
14) You wish to borrow $17,000 to be repaid in 66 monthly installments of $325.43. What is the annual rate? 8.75% 15) You have borrowed $60,000 to buy a sports car. You plan to make monthly payments over a 10-year period. The bank has offered you a 5% interest rate compounded monthly. What is the monthly payment? $636.39. How much principal and interest is paid through the first two years? PRN = $9,731.67, INT $5,541.77. What is the principal balance of the loan after five years? $33,722.92. How much total interest will you pay over the life of the loan? $16,367.17Step by Step Solution
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